Oil Holds at Five-Month Highs on Supply Concerns - WSJ

0745 GMT – Oil prices hold steady at five-month highs ahead of an OPEC+ meeting later on Wednesday as global supplies are threatened by escalating hostilities in the Middle East and …

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FAQs about Oil Holds at Five-Month Highs on Supply Concerns - WSJ Coupon?

Why did oil hit a five-month high on Monday?

Oil extended gains to hit a five-month high on Monday as worries grew over supply disruptions impacting big importers China and India following wide-ranging sanctions against Russian crude. ...

Why are oil prices at five-month highs ahead of OPEC+ meeting?

0745 GMT – Oil prices hold steady at five-month highs ahead of an OPEC+ meeting later on Wednesday as global supplies are threatened by escalating hostilities in the Middle East and amid fresh waves of attacks against energy facilities in Ukraine and Russia. ...

Why did oil hold a five-month high?

Oil held near a five-month high on threats to global supplies posed by harsher US sanctions against Russian flows and potential trade tariffs from the incoming Trump administration. West Texas Intermediate was steady near $79 a barrel, after surging by more than 6% over the previous two sessions, while Brent closed above $81. ...

Are the new sanctions a threat to crude oil supply?

The International Energy Agency said on Wednesday that the fresh sanctions pose risks to the supply of crude oil in the coming weeks. At the time of writing, the price of West Texas Intermediate crude oil on the New York Mercantile Exchange was at $78.97 per barrel, up 0.3%. ...

Why are oil prices holding steady ahead of OPEC+ meeting?

Oil prices were holding steady at five-month highs ahead of an OPEC+ meeting later on Wednesday as global supplies are threatened by escalating hostilities in the Middle East and amid fresh waves of attacks against energy facilities in Ukraine and Russia. Brent crude was up 0.2% at $89.11 a barrel ...

Are US sanctions causing oil prices to rise?

Concerns over Russian supply disruptions due to recent US sanctions also fueled price increases. The International Energy Agency said on Wednesday that the fresh sanctions pose risks to the supply of crude oil in the coming weeks. ...