Oil gained 2% on lingering supply concerns
International benchmarks for crude oil jumped 2% on Thursday, 23 February 2023 after Russia said it would cut oil exports by 25% in March – much larger than the initial announcement of 500,000 barrels per day.
International benchmarks for crude oil jumped 2% on Thursday, 23 February 2023 after Russia said it would cut oil exports by 25% in March – much larger than the initial announcement of 500,000 barrels per day. The supply fear, however, was undermined by the stronger US dollar and the softer demand in the US.
Brent added $1.61 or 2% to close at $82.21/barrel.
WTI ended the session at $75.39/barrel, $1.44 higher.