With the EU planning to ban Russia’s crude imports within six months, following Moscow’s invasion of Ukraine, European refiners will have to look for alternative supply, though many of them have already started diversifying their sources. Shell and Sweden’s Preem were among the first to cease all spot purchases of Russian oil and products. .
RIYADH: Oil rose on Wednesday, following a 9 percent drop over the previous two sessions, on supply concerns as the EU worked on gaining support for a ban on Russian oil and major producers warned they may struggle to fill the gap when demand improves. Brent crude rose $1.42, or 1.4 percent, to $103.88 a barrel at 0232 GMT, while US West Texas Intermediate crude climbed $1.23,
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