12/5/2022, 2:27 PM (Source: TeleTrader)
more TeleTrader news

Oil prices surge over 3% amid Russian oil cap, COVID

Crude oil prices extended gains on Monday by over 3% following the West's cap on Russian crude and amid rising expectations that the easing of COVID-19 controls in China will boost demand.

On the recently approved measure to limit the price of Russian oil, Deputy Prime Minister Alexander Novak stated Moscow would not export oil to the countries that adopt the deal.

For settlements in January, West Texas Intermediate (WTI) rose by 3.33% to sell for $82.64 per barrel at 8:22 am ET. At the same time, Brent for deliveries in February advanced by 3.26% going to $88.36 per barrel.

Baha Breaking News (BBN) / JG