Oil prices react to new sanctions

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Source: Dukascopy Bank SA
Crude oil prices are reacting to the United States tightening Russian crude oil export restrictions. The new rules have caused an expectations of reduced global supply.

Starting from 18:00 GMT up to 11:00 GMT, the crude oil price benchmarks reversed their direction and gained nearly 5.00%. At mid-Friday, US light crude traded near the 85.00 mark and Brent crude was above 89.00 level.



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