Russian Urals Oil Prices Rise Above Western Price Cap
Russia's Urals crude oil price rose above the $60 per barrel limit imposed by Western nations as the Brent price jumped last week, fuelled by rising tensions in the Middle East, Reuters calculations based on traders' data showed on Monday.Oil prices jumped on Friday and settled 7% higher as Israel and Iran traded air strikes, feeding investor worries that the combat could widely disrupt oil exports from the Middle East.The U.S., other Group of Seven countries and Australia imposed the price cap in late 2022…
Oil Prices Fall From Recent Highs Amidst Middle East Tensions
Oil prices fell on Thursday after sharp gains in the previous session as market participants assessed a U.S. decision to move personnel from the Middle East ahead of talks with Iran over that country's nuclear-related activity.Brent crude futures were down $1.02, or 1.5%, at $68.75 a barrel at 1253 GMT, while U.S. West Texas Intermediate crude fell $1.05, or 1.5%, to $67.10 a barrel.Both Brent and WTI surged more than 4% in the previous session to their highest levels since early April.U.S. President Donald Trump said the U.S.
