Oil rises ahead of US stockpiles data, Brent crosses $107

06/04/2022 Argaam

Oil drilling rigs

Oil prices edged higher today, April 6, as investors focussed on European Union’s (EU) decision to avoid immediate sanctions on Russian oil.

 

The international benchmark Brent crude was trading up 0.52% at $107.19 per barrel, at 10.03 am Makkah time.

 

West Texas Intermediate (WTI) crude rose 0.27% to $102.24 a barrel.

 

While the EU will continue to impose additional sanctions on Moscow for the war in Ukraine, including a ban on coal, crude will not yet be targeted.

 

Still, European Commission President Ursula von der Leyen said the bloc will push ahead with a debate among members on tackling Russian oil.

 

Data from the American Petroleum Institute showed that oil inventories in the US rose by 1.1 million barrel in the week ended April 1.

 

Official statistics from US Energy Information Administration will be released later today.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read