💨 Abstract

Oil prices surged more than 2% on Wednesday due to a draw in U.S. crude stockpiles and potential supply disruptions from new U.S. sanctions on Russia. Brent and WTI crude hit their highest levels since August 2024 and July respectively. The gains were limited by a ceasefire deal in Gaza. The U.S. Energy Information Administration reported a drop in U.S.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖