Oil prices jumps 3% amid U.S. tightening its sanctions programme against Russian crude exports

Oil prices yesterday jumped three percent amid the U.S. tightening its sanctions programme against Russian crude exports, raising supply concerns in an already tight market, and global inventories are forecast to decline through the fourth



quarter.

In intra-day trade, Brent crude was trading at 89 dollars per barrel. West Texas Intermediate crude price was at 85 dollars and 90 cents per barrel when reports last came in.