Crude has surged in 2022, with Brent hitting US$139, its highest since 2008, in early March as Russia’s invasion of Ukraine exacerbated supply concerns
Brent crude futures slipped US$1.32, or 1.2%, to US$106.19 a barrel by 0646 GMT. WTI crude futures fell US$1.52, or 1.4%, to US$104.19 a barrel
The article discusses the latest Tullow Oil share price predictions from analysts, as well as its latest news and performance.
Japan is set to release a total of 15 million barrels as part of the IEA’s stockpile release.
U.S. gasoline demand on Sunday jumped by 12.6 percent compared to the previous Sunday.
Sanctions come at a time that OECD crude inventories were already well below their 5-year average.
Crude oil prices have been soaring on the international market following the Russian invasion of Ukraine.
Oil prices soared to over $130 on Sunday on rumors that the U.S. and its European allies would ban Russian crude.
WTI crude rose 7% following the news that the White House is considering a ban on the import of Russian crude oil.