Oil prices rose early on Thursday by around 3 % in Asian trading, following the imposition of new US sanctions on Russia’s two largest oil companies.
According to Agence France-Presse, Brent crude increased by 2.86 % to $64.38 per barrel, while West Texas Intermediate (WTI) rose by 2.89 % to $60.19 per barrel.
The United States imposed sanctions on the Russian companies Rosneft and Lukoil, citing their role in financing the war in Ukraine.
