Oil market edged higher on curtailing the Russian supply
Russia earlier said the country would cut exports from its western port by 25% in March, which is much larger than the initially planned production cut of 500,000 barrels per day.
International benchmarks for crude oil ended the volatile trading session on Friday, 24 February 2023 higher as investors continued to overlook the rising supply in the US and the prospect of further interest rate hikes from the FED to focus on the curtailing Russian supply. Russia earlier said the country would cut exports from its western port by 25% in March, which is much larger than the initially planned production cut of 500,000 barrels per day.
Brent added 95 cents to close at $83.16/barrel.
WTI gained 93 cents to settle at $76.32/barrel.