Oil edged higher on Thursday after its biggest plunge in two years in the previous session, as uncertainty over Russian supplies roiled the market despite Moscow’s reassurance over its contractual energy obligations.
Since Russia’s Feb. 24 invasion of Ukraine, oil markets have been the most volatile in two years, with global benchmark Brent crude recording its biggest decline since April, 2020, on Wednesday, just a couple of days after hitting a 14-year high at over $139 a barrel.
