Commodities
Oil Extends Rally on Signs Sanctions Are Hurting Russian Flows
Russian data showed production last month slipped further below the nation’s OPEC+ quota.
Source: Bloomberg
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Oil extended gains on signs US sanctions are hampering Russian crude supplies.
West Texas Intermediate rose 1.4% to settle above $73 a barrel, building on Monday’s 1.9% advance, which was the biggest in almost four weeks. Several million barrels from Russian platforms in the Pacific are stranded after the shuttle tankers that hauled them to China were blacklisted.