US and UK sanctions on Russia raise oil prices, but experts predict stability due to potential oversupply.

US and UK sanctions on Russia's energy sector have led to a rise in oil prices, reaching the highest level in over four months. Asian markets declined following a strong US jobs report, which suggested reduced chances of Federal Reserve interest rate cuts. Despite the sanctions, experts predict that oil prices may not soar due to potential oversupply and OPEC+'s plans to increase production.

2 months ago
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