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Asharq Al-Awsat

Business

Asharq Al-Awsat

Oil Markets Steady as Investors Weigh Banking Crisis, Russia

Oil United States Vladimir Putin Russia Europe

A general view shows an oil rig used in drilling at the Zubair oilfield in Basra, Iraq, July 5, 2022. (Reuters)

Oil prices stabilized in Asian trade on Monday as investors sought cues from broader financial markets, while comments by Russian President Vladimir Putin over the weekend ratcheted up geopolitical tensions in Europe.

Brent crude futures held unchanged at $74.99 a barrel at 0357 GMT after hitting a session high of $75.64. US West Texas Intermediate crude was at $69.29 a barrel, up 3 cents, after rising to $69.92 earlier in the session.

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One subscription that gives you access to news from hundreds of sites

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