Oil Edges Forward as Investors Shrug Off Russia Mutiny
- Economics, not geopolitics, dominating oil market, says Yergin
- WTI settled above $69 a barrel bolstered by a weaker dollar
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Oil edged higher as a weaker dollar made the commodity more attractive to importers, with the market so far shrugging off the dramatic but short-lived rebellion inside Russia.
Calm returned to Moscow following the end of the uprising led by Wagner Group head Yevgeny Prigozhin, with investors waiting to see whether it presaged the potential for more turbulence in Russia. Despite the country being a major OPEC+ producer, oil prices were unmoved by the mutiny.