(Bloomberg) Oil took a breather near $111 a barrel after a sizzling rally as buyers continued to shun Russian crude following its invasion of Ukraine, while OPEC+ is doing its best to ignore the war started by one of its key members.
Oil extended gains after rallying to a seven-year high as the market continued to tighten amid a global energy crunch. Futures in New York climbed toward $80 a barrel after jumping almost 6 percent over the past four sessions. Prices closed at the highest since 2014 on Tuesday as surging…