Oil Rallies, Settles at Multi-Month High on US Crude Draw, Russia Sanctions
Jan 16 2025, 04:19 Oil prices rose more than 2% on Wednesday, supported by a large draw in U.S. crude stockpiles and potential supply disruptions caused by new U.S. sanctions on Russia, while a Gaza ceasefire deal limited gains. Brent crude futures settled $2.11, or 2.64%, higher at $82.03 a barrel, the highest since August…
