Oil prices rally 3% as US hits Russian oil with tougher sanctions
Oil prices rallied nearly 3% to their highest in three months on Friday as traders braced for supply disruptions from the broadest U.S. sanctions package targeting Russian oil and gas revenue.
Oil Prices Skyrocket 4.5% as U.S. Targets Russian Tankers
Oil prices hit a three-month high due to new US sanctions targeting Russian oil tankers and maritime insurance providers, amidst dwindling US crude stockpiles and cold weather.
Oil jumps more than 4%, Brent breaks $80 as traders worry about tougher Russia sanctions
Oil prices jumped more than 4% on Friday, with global benchmark Brent breaking $80 per barrel for the first time since October on fears that tougher U.S. sanctions on Russia will disrupt crude supplies.
Oil Prices Pop on Icy Weather, More Sanctions
Crude prices are having one of their best days in a year, rallying as much as 5% amid concerns that icy weather in the oil patch will crimp domestic supply, while tighter sanctions on Russia and Iran may eliminate barrels from global markets.
Biden Hits Russian Oil in Toughest Sanctions Yet in Bid to Give Ukraine, Trump Leverage
The Biden administration on Friday imposed its broadest package of sanctions yet targeting Russia's oil and gas revenues in an attempt to give Kyiv and the incoming administration of Donald Trump leverage to reach a deal for peace in Ukraine.
Sweeping new U.S. sanctions target Russia's oil production and exports
The U.S. Departments of Treasury and State Friday applied new sanctions on Russia's oil production and exports. Sanctioned were oil companies, 183 ships, dozens of oil traders, insurance companies and energy officials.
US imposes new wide-ranging sanctions on Russian oil
The United States of America has announced new sanctions that will hit Russia's oil refining industry. Source: European Pravda with reference to a US Treasury Department press release Details: Sanctions have been announced against Gazprom Neft and Surgutneftegas.
US to Impose Sanctions on Russian Oil Fleet, Document Shows
The United States will impose some of the harshest sanctions yet on Russia's oil industry, according to a purported U.S. Treasury document circulating among traders in Europe and Asia that drove global oil prices 3% higher on Friday.
US imposes sanctions on largest oil companies in Russia and more
The US has imposed sanctions on over 30 Russian oil service companies. At the same time, restrictions have also affected a Serbian company linked to Gazprom Neft, according to the US government website and the US Department of the Treasury.
Brent Crude Oil Hits $80 a Barrel for First Time Since October
Oil surpassed $80 a barrel as traders digested a report that Indian oil processors are bracing for new US sanctions that ...
Why Has Oil Hit A 3-Month High With Brent Touching $80
On Friday, crude oil futures rose to price levels last seen in October 2024. What are the reasons behind the uptick in prices ...
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India’s Refiners Brace For Major Disruption to Russian Oil Supply
Indian refiners expect their supply of cheaper Russian crude to be severely crippled with imminent U.S. sanctions expected to ...
U.S. Crude Oil Stockpiles Extend Decline to Seven Weeks
U.S. crude oil inventories fell for a seventh consecutive week, while product stocks saw large builds last week as refineries ...
Russia Says It Cut Crude Oil Output Below OPEC+ Target in December
Russia’s own data show its crude production in December fell below its OPEC+ target, according to people familiar with ...
Asia's crude oil imports drop in 2024 as weak China weighs
Asia's crude oil imports dropped in 2024, the first annual decline in three years, led by weak demand from heavyweight China ...
Oil Disaster Averted After Sabotaged Tanker Is Salvaged
The Greek-flagged, Sounion was first attacked on Aug. 21 with small arms, projectiles, and a drone boat by the Iran-backed ...