Crude prices traded down today with US crude settling below $95 for the first time since April in another choppy session. WTI is lower week over week for the third straight week after data showed gasoline demand down 8% from this time last year. The EU is adjusting sanctions on Russia, allowing Rosneft and Gazprom to ship oil to third-party countries in a bid to limit the risks to global energy security. Under tweaks to sanctions on Russia that came into force on Friday payments related to purchases of Russian seaborne crude oil by EU companies would not be banned. Companies like Vitol and Total can now buy Russian seaborne crude and export it to third countries. “Short term that definitely is a negative headline that probably gave us a little bit of a sell-off here,” said Phil Flynn, an analyst at Price Futures Group. WTI traded down $1.65 or -1.71% to close at $94.70. Brent traded down $.26 or -.25% to close at $101.60.<\/p>\n\n\n\n
Crude prices traded down today with US crude settling below $95 for the first time since April in another choppy session<\/p>\n","protected":false},"author":2,"featured_media":6111,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-6925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n