Oil seeks a way in trading turbulent . “Brent” at $ 107

Oil prices fluctuated in Tuesday’s session amid rising demand for refined products amid a string of closures in China.

Global benchmark Brent crude futures settled at $ 107 a barrel, while West Texas Intermediate crude was hovering around $ 105 after closing on Monday. in increase of 0.5%.

Exports record of US Gulf Coast fuel is drying up domestic supplies, pushing diesel margins to a new high. This reflects an increased global demand for fuel, in particularly from Latin America, where supply remains low due to the avoidance of Russian shipments.

Oil has seen a turbulent period of trade since the Russian invasion of Ukraine in late February. Prices have gone down prime trading on Monday, as Beijing and Shanghai implemented stringent measures to contain a large-scale outbreak of Covid-19, which raised concerns about demand.

In Europe, the European Union will propose a ban on Russian imports by the end of the year.

Crude Oil surged for the fifth straight month in April, posting its longest streak of monthly gains since January 2018. But the market is also grappling with concerns about an economic slowdown, rising inflation and growing rhetoric. aggressive by Federal Reserve officials, leaving prices highly vulnerable.

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