Crude oil futures were higher in mid-morning Asian trade April 5, extending strong overnight gains as markets continued to price in the possibility of an EU-wide ban on Russian energy imports.
At 10:20 am Singapore time (0220 GMT), the ICE June Brent futures contract was up $1.82/b (1.69%) from the previous close at $109.35/b, while the NYMEX May light sweet crude contract rose $1.74/b (1.68%) to $105.02/b. French President Emmanuel Macron on April 4 called for new sanctions that target Russian crude oil and coal — although Austria is already opposing Russian energy sanctions — and US President Joe Biden proposed a war crimes trial over the alleged atrocities, specifically referring to Russian President Vladimir Putin as a “war criminal.” Russia has denied committing any war crimes. Biden also said the White House is working on additional […]