The latest round of U.S. sanctions targeting two of Russia’s largest oil exporters has pushed crude oil prices higher, with benchmarks on course to end the week with a gain after a string of losses.
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Oil prices are rising as the situation in the Middle East becomes critical.
Despite a surge in oil prices this week on expectations of a major escalation in the Middle East, the benchmarks were set for their fourth weekly loss in a row as demand concern outweighed the war premium.
Crude oil prices are on track for a third weekly loss in a row, pressured by the perception of weaker-than-desired Chinese demand.
Oil prices are poised for a third straight weekly jump, buoyed by growing expectations that the U.S. central bank will soon start to cut interest rates.
