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6/17, 4:10 PM (Source: TeleTrader)
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Crude down over 2% as Russian oil turns east

Oil prices decreased on Friday, falling over 2% as global price volatility continues. Earlier in the day, Sberbank CEO Herman Gref said Russia will redirect 73% of its oil exports to countries that refused to join Western sanctions. Meanwhile, Russian President Vladimir Putin praised the performance of the domestic economy, claiming sanctions have failed.

West Texas Intermediate (WTI) for deliveries in July declined by 2.68% at 10:08 am ET to go for $114.44 per barrel. At the same time, Brent for settlements in August fell by 2.35% to sell for $116.84.

Baha Breaking News (BBN) / DJ