Crude Oil Prices Edge Higher on Possible Further U.S. Sanctions Against Russia
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Crude oil prices rose slightly due to potential U.S. sanctions on Russia's energy sector and a blockade of Venezuelan oil tankers, raising supply concerns. Brent crude increased by 0.2% to $59.78/barrel, and West Texas Intermediate crude rose by 0.3% to $56.13/barrel. The U.S. may impose further sanctions if Russia does not agree to a peace deal with Ukraine, though no decision has been made yet. Analysts suggest these sanctions could significantly impact global oil supply.
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