💨 Abstract

Oil prices surged on Friday, reaching a three-month high, driven by potential supply disruptions from additional sanctions on Russia and Iran. Brent crude futures climbed 8% over three weeks, while West Texas Intermediate gained 9%. The rise was attributed to cold weather boosting fuel demand in the U.S. and Europe, and the possibility of tighter sanctions affecting Iran and Russia's oil industry.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖