Al-Marsad newspaper – Archyde.com: Oil prices rose in turbulent trading on Wednesday, due to disruptions in crude exports from Russia and Kazakhstan via the Caspian Sea pipeline.
Oil futures extended gains, with global benchmark Brent crude jumping $5 to $120.50 a barrel.
The price of Brent crude futures rose $3.13, or 2.7 percent, to record $118.61 a barrel by 1100 GMT. The price had fallen earlier to 114.45 dollars a barrel.
US President Joe Biden is scheduled to announce more sanctions on Russia when he meets with European leaders on Thursday in Brussels and attends emergency NATO meetings.
