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Novak said that Russian oil exports gradually recover, though energy sector The country is not in crisis, as quoted "Archyde.com".
وارتفع oil prices On Thursday, it recovered from losses incurred in early trading, thanks to hopes that the planned easing of pandemic restrictions in the Chinese city of Shanghai will lead to an improvement in fuel demand, while continuing concerns about a global supply shortage outweighed concerns of a slowdown Economic growth.
Brent crude futures for July delivery rose $1.32, or 1.2 percent, to $110.43 a barrel by 07:00 GMT, after falling more than a dollar earlier in the session.
And US West Texas Intermediate crude futures for June delivery rose 62 cents, or 0.6 percent, to $110.21 a barrel, recovering from an early loss of more than $2, and US crude contracts for July delivery rose $1.33, or 1.2 percent, to $108.26 a barrel.
Both global benchmarks contracts to the nearest maturity fell by about 2.5 percent on Wednesday.
Russian crude
Timely European Union This month, a new package of sanctions against Russia over its military operation in Ukraine includes a complete ban on Russian oil imports within six months, but it has not yet been adopted.
Commenting on the impact of that decision, Satoru Yoshida, a commodity analyst at Rakuten Securities, said: "The decline in Wall Street dampened sentiment in early trading as it confirmed concerns about weak consumption and fuel demand. Oil markets are still maintaining an uptrend as a pending EU import ban on Russian crude is expected to further reduce global supply.".
US crude stocks fell unexpectedly last week, as refineries increased production in response to the shortage of stocks, which raised diesel prices Gasoline in the United States is at record levels.
In China, investors are closely watching the plans of Shanghai, the country’s most populous city, to ease anti-epidemic restrictions from June 1, which could lead to a rebound in China. Oil demand The largest importer of crude in the world.
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Novak said that Russian oil exports gradually recover, though energy sector The country is not in a crisis, according to “Archyde.com”.
وارتفع oil prices On Thursday, it recovered from losses incurred in early trading, thanks to hopes that the planned easing of pandemic restrictions in the Chinese city of Shanghai will lead to an improvement in fuel demand, while continuing concerns about a global supply shortage outweighed concerns of a slowdown Economic growth.
Brent crude futures for July delivery rose $1.32, or 1.2 percent, to $110.43 a barrel by 07:00 GMT, after falling more than a dollar earlier in the session.
And US West Texas Intermediate crude futures for June delivery rose 62 cents, or 0.6 percent, to $110.21 a barrel, recovering from an early loss of more than $2, and US crude contracts for July delivery rose $1.33, or 1.2 percent, to $108.26 a barrel.
Both global benchmarks contracts to the nearest maturity fell by about 2.5 percent on Wednesday.
Russian crude
Timely European Union This month, a new package of sanctions against Russia over its military operation in Ukraine includes a complete ban on Russian oil imports within six months, but it has not yet been adopted.
Commenting on the impact of the decision, Satoru Yoshida, commodity analyst at Rakuten Securities, said, “The decline in Wall Street dampened sentiment in early trading as it underscored concerns about weak consumption and demand for fuel. Oil markets continue to maintain an uptrend as expected An expected European Union import ban on Russian crude could further reduce global supplies.”
US crude stocks fell unexpectedly last week, as refineries increased production in response to the shortage of stocks, which raised diesel prices Gasoline in the United States is at record levels.
In China, investors are closely watching the plans of Shanghai, the country’s most populous city, to ease anti-epidemic restrictions from June 1, which could lead to a rebound in China. Oil demand The largest importer of crude in the world.