Wednesday, January 22, 2025
Oil rebounds on tight supply, prospects of new Russia sanctions-oil and gas 360

Oil rebounds on tight supply, prospects of new Russia sanctions

CNBC Oil prices jumped by more than $4 on Wednesday on supply tightness and the growing prospect of new Western sanctions against Russia even as Moscow and Kyiv held peace talks. Brent crude futures were up $4.09, or 3.7%, at $114.32, reversing a 2% loss in the previous session. U.S. West Texas Intermediate (WTI) crude futures rose $4.17, or 4%, to