WTI licks its wounds near $77.50 amid fresh challenges to supplies from Russia – by anilpanchal7 Oil WTI RussianFederation OPEC Commodities
Ukrainian drones renew fresh geopolitical fears by attacking deep inside Russia.Firmer US Dollar adds strength to the bearish bias, China-linked optimism favor commodity bulls.consolidates the biggest daily loss in two weeks by making rounds to $77.50 early Wednesday. In doing so, the black gold also justifies the optimism surrounding China and supply-crunch fears emanating from China.
On the same line, Reuters mentioned that the Group of Seven price cap on Russian seaborne oil came into force on Monday as the West tries to limit Moscow's ability to finance its war in Ukraine, but Russia has said it will not abide by the measure even if it has to cut production.
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