Oil rises as Russia sanctions bolster crude’s hot start to 2025
- Oil prices reached their highest level in over three months due to expectations of wider U.S. sanctions affecting Russian crude supplies to China and India.
- Brent crude futures rose $1.35 to $81.11 a barrel, while U.S. West Texas Intermediate crude increased $1.40 to $77.97 a barrel.
- The U.S. Treasury imposed sanctions on Russian oil producers Gazprom Neft and Surgutneftegas, targeting revenue used to fund the war with Ukraine.
- Analysts predict that Russian oil exports will suffer, pushing China and India to seek oil from the Middle East, Africa, and the Americas.
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Coverage Details
Total News Sources0
Leaning Left4Leaning Right7Center4Last UpdatedBias Distribution47% Right
Bias Distribution
- 47% of the sources lean Right
47% Right
L 27%
C 26%
R 47%
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