The Headlines – Global oil prices: Trump’s sanctions on Russian firms trigger sharp rise; Brent crude futures soar nearly 5%

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The Headlines – Global oil prices: Trump’s sanctions on Russian firms trigger sharp rise; Brent crude futures soar nearly 5%

US sanctions on Russia’s top oil companies, Lukoil and Rosneft, triggered a sharp rise in oil prices. This, coupled with robust US energy demand and falling inventories, boosted Brent crude and WTI. Investors also monitored US-China trade talks and a postponed summit with Russia.

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