Oil rises 3% after Trump sanctions Russia’s Rosneft and Lukoil
Oil prices surged around 3% on Wednesday evening following fresh sanctions by the Trump administration on Russia’s two largest crude companies, citing Moscow’s “lack of serious commitment to a peace process to end the war in Ukraine.”
By 8:18 p.m. ET, Brent crude rose $1.83 (2.92%) to $64.42 per barrel, while U.S. crude gained $1.74 (2.97%) to $60.24 per barrel. Earlier in regular trading, Brent had climbed 2% to close at $62.59 per barrel, and U.S. crude advanced 2.2% to settle at $58.50 per barrel.
