Oil Prices Set to End the Week Higher After U.S. Sanctions Spark Rally
Market Intelligence Analysis
AI-PoweredOil prices are expected to end the week higher due to US sanctions on Russian oil exporters, following a string of losses. Brent crude and West Texas Intermediate have seen a substantial uptick since Monday, adding $4 per barrel each. The sanctions have sparked a rally in the oil market.
Market impact analysis based on bullish sentiment with 90% confidence.
Article Context
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. At the time of writing, Brent crude was trading at $65.63 per barrel, with West Texas Intermediate at $61.43. Both were slightly down from Thursday but on course for a substantial uptick since Monday, adding some $4 per barrel each in the period. The first reports about the effect of the latest U.S. sanctions, which target Rosneft and Lukoil,…
Analysis and insights provided by AnalystMarkets AI.