Oil prices surged around 5% to a two-week high on Thursday after the U.S. imposed sanctions on major Russian suppliers Rosneft and Lukoil over Moscow’s war in Ukraine, prompting energy firms in China and India to consider cutting Russian imports. Brent futures rose $3.40, or 5.4%, to settle at $65.99 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $3.29, or 5.6%, to settle at $61.79. Those were the biggest daily percentage gains for both crude contracts since mid-June and their highest closes since October 8. “The announcement of sanctions by the U.S. on Rosneft and Lukoil is a…
Oil surges 5% after US sanctions Russian firms Rosneft, Lukoil
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