International crude oil prices soar as US fuel inventories drop and Russian gas exports to Europe decrease
Views : 130
Update time : 2022-05-13 22:04:15
US fuel inventories plummeted ahead of the summer travel season, and Russia’s natural gas exports to Europe decreased, causing international crude oil prices to soar by 5% on Wednesday (May 11).
Brent crude for July delivery hiked by 4.9%, settling at US$107.51/barrel. West Texas Intermediate crude for June delivery was up by 6% to US$105.71/barrel on the New York Mercantile Exchange.
Besides, Russia announced sanctions on some European natural gas companies, which increased the uncertainty of the global energy market.
Entering the Chinese New Year holiday, market trading is sluggish
Trade & Pricing: Europe's billet market trend 2024-2025
