Apr 25, 2022 Oil fell at the start of the week on concerns that a spreading Covid-19 outbreak in top consumer China will weigh on global demand. West Texas Intermediate futures slid almost 5% to trade below $98 a barrel amid a rout in stocks and other raw materials. Rising cases in…
(Bloomberg) Oil continued its rally above $125 a barrel after President Joe Biden said the U.S. would ban the import of Russian crude, escalating sanctions against the nation following its invasion of Ukraine.
Crude futures sank as the United Arab Emirates called on OPEC+ to boost oil output faster while Ukrainian President Volodymyr Zelenskiy reiterated willingn.