Oil surges as US bans Russian crude, Britain to phase out purchases

March 09, 2022 7:30 AM

BENGALURU (REUTERS) – Oil prices settled around 4 per cent higher on Tuesday as the United States banned Russian oil imports and Britain said it will phase them out by year end, decisions expected to further disrupt the global energy market where Russia is the second-largest exporter of crude.

Source : https://www.straitstimes.com/business/companies-markets/oil-surges-as-us-bans-russian-crude-britain-to-phase-out-purchases