💨 Abstract

Oil prices surged more than 2% on Wednesday due to a decrease in U.S. crude stockpiles and potential supply disruptions from new U.S. sanctions on Russia. crude inventories dropped to their lowest level since 2022, with exports rising and imports falling. The International Energy Agency anticipates that these sanctions could disrupt Russian oil supply and distribution significantly.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖