💨 Abstract

Oil prices rose by 2% on Wednesday, driven by a drawdown in U.S. crude stockpiles, potential supply disruptions from new U.S. sanctions on Russia, and the temporary halt to the war in Gaza. crude inventories hit their lowest level since 2022, with exports rising and imports falling. The International Energy Agency predicted significant disruptions to Russian oil supply due to new sanctions.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖