Oil prices climbed on Thursday following losses in the previous session, as markets weighed the latest U.S. proposals to end the war in Ukraine and prepared for the U.S.-imposed deadline to halt dealings with two major Russian oil companies.
اضافة اعلان
Brent crude futures rose 21 cents, or 0.33%, to $63.72 per barrel by 01:42 GMT, while U.S. West Texas Intermediate (WTI) crude increased 24 cents, or 0.40%, to $59.68 per barrel.
Both benchmarks had fallen nearly 2% on Wednesday. Thursday’s gains followed a Reuters report that the United States had signaled to Ukraine to accept a U.S.-crafted framework to end the conflict with Russia, involving concessions of some territory and weapons, according to two sources familiar with the matter.
As part of U.S. efforts to end the conflict, Washington imposed sanctions on Rosneft and Lukoil, Russia’s largest oil producers and exporters. The deadline to cease dealings with these firms is set for November 21.
In response, Rosneft reduced its stake in the Kurdistan pipeline company—a major oil export route in Iraq’s Kurdistan region—to below 50% in order to protect its subsidiary from U.S. sanctions.
(Reuters)
