5/26, 4:17 PM (Source: TeleTrader)
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Oil extends gains, WTI surges over 3%

The prices of oil futures extended gains on Thursday as worries have been mounting over the European Union finally making a decision on the Russian oil ban.

The supply has been seemingly tightening as the United States Energy Information Administration previously reported that crude stockpiles in the country declined by 1 million barrels.

West Texas Intermediate (WTI) for settlements in July soared 3.13% to sell for $113.58 per barrel at 10:10 am ET, while Brent for deliveries in July jumped 2.18%, going for $116.43 per barrel a minute later.

Baha Breaking News (BBN) / AY