💨 Abstract

Oil prices dipped on Friday but recorded a fourth consecutive weekly gain due to US sanctions on Russian energy trade causing supply concerns in Europe, India, and China. Brent crude and West Texas Intermediate futures rose 1.3% and 1.7% respectively for the week. The Biden administration's broader sanctions targeting Russian oil producers and tankers added to the tight supply.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖