A mix of the easing of COVID restrictions in both Shanghai & Beijing, firmer equities, a softer USD and continued focus on tight U.S. product markets as the U.S. driving season gets underway, supported crude on Monday. WTI sits $1.00 higher on the day at typing as a result.

Elsewhere, progress when it comes to EU sanctions on Russian crude exports remains elusive, although talks on the matter are set to continue on Monday. RTRS sources have suggested that the current proposal on the table involves “a ban on Russian oil delivered to the EU by sea by the end of the year, but foresees an exemption for oil delivered by the Russian Druzhba pipeline, which supplies Hungary, Slovakia and Czechia.”

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

EM Bullet Homepage Fixed Income News Commodities Energy Bullets Bullet Markets Emerging Markets News Foreign Exchange News

Anthony Barton

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

EM Bullet Homepage Fixed Income News Commodities Energy Bullets Bullet Markets Emerging Markets News Foreign Exchange News

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Crude A Touch Firmer In Asia