KONTAN.CO.ID - SYDNEY. Oil prices climbed on Wednesday on worries that sliding output in sanctions-hit Russia, the world's second-biggest oil exporter, will tighten supply after Moscow said peace talks to resolve its invasion of Ukraine had come to a dead end. Brent crude futures rose 59 cents, or 0.6%, to $105.23 a barrel at 0053 GMT, while U.S. West Texas Intermediate (WTI) crude futures jumped 60 cents, or 0.6%, to $101.20 a barrel. Both contracts surged more than 6% in the previous session. Russian President Vladimir Putin on Tuesday blamed Ukraine for derailing peace talks, and said Moscow would not let up on what it calls a "special operation" to disarm its western neighbour.
Oil Prices Rise on Tight Supply Outlook as Russia Spurns Peace Talks
KONTAN.CO.ID - SYDNEY. Oil prices climbed on Wednesday on worries that sliding output in sanctions-hit Russia, the world's second-biggest oil exporter, will tighten supply after Moscow said peace talks to resolve its invasion of Ukraine had come to a dead end. Brent crude futures rose 59 cents, or 0.6%, to $105.23 a barrel at 0053 GMT, while U.S. West Texas Intermediate (WTI) crude futures jumped 60 cents, or 0.6%, to $101.20 a barrel. Both contracts surged more than 6% in the previous session. Russian President Vladimir Putin on Tuesday blamed Ukraine for derailing peace talks, and said Moscow would not let up on what it calls a "special operation" to disarm its western neighbour.