Oil settled higher as Russia threatened output cuts in response to price cap
Oil settled higher as Russia threatened output cuts in response to price cap
International benchmarks for crude oil ended the trading session on Friday, 24 December 2022 higher after Russia said it could cut production outputs by 5-7% in early 2023 in response to the G7 price cap.
Brent added $2.94 or 3.6% to settle at $83.92/barrel.
WTI gained $2.07 or 2.7% to close at $79.56/barrel.