Oil prices reverse early losses and rise to over $105 a barrel on Monday in volatile trade as supply concerns continue from the Ukraine war and the lack of clarity on Iran oil, despite expected supply boost from the release of strategic reserves by the US and the International Energy Agency (IEA).
Russian President Vladimir Putin is demanding foreign buyers pay for Russian gas in roubles from Friday or else have their supplies cut, a move European capitals rejected and which Berlin said amounted to "blackmail".
Russian President Vladimir Putin said Thursday that "unfriendly" countries, including all EU members, will need to set up rouble accounts to pay for gas deliveries from April.
Crude oil prices traded in a narrow range early on Friday, oscillating between the optimism of a supply boost from the US and investors' fears about the impact of Russia's demand for rouble gas payments starting from today.