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3/23, 9:34 AM (Source: TeleTrader)
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Oil adds 1% amid Russia, Kazakhstan supply woes

Prices of crude oil futures rose 1% on Wednesday, as the investors monitored statements from Western officials, looking for hints of future sanctions against the world's second-largest oil exporter, Russia.

Adding to the supply worries, Kazakhstan's energy ministry said earlier today that its storm-struck Caspian Pipeline Consortium (CPC) is partially shut down for repairs.

West Texas Intermediate for settlements in May rose 1.13% at 4:22 am ET, selling for $110.5 per barrel, while Brent for deliveries in the same month jumped 1.25% a minute later, to go for $116.92 per barrel.

Baha Breaking News (BBN) / BU