Oil Prices Dip After Russia's Novorossiysk Port Resumes Loadings

Oil prices experienced a dip on Monday following Russias resumption of oil loadings at Novorossiysk port, after a two-day suspension due to a Ukrainian attack. Brent crude fell by 0.7%, while U.S. West Texas Intermediate crude dropped by 0.8%. Despite earlier gains of over 2% due to supply disruptions, investors remain concerned about ongoing Ukrainian attacks on Russian oil infrastructure and the impact of Western sanctions on Russian oil supply and trade.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.