Commodities
Oil Advances as Traders Weigh Trump’s Threat to Russian Crude
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Oil rose after US President Donald Trump suggested that the US may work to curtail crude shipments from Russia, the world’s third-largest producer and a major exporter.
West Texas Intermediate climbed 3.1% to settle above $71 a barrel, the biggest gain since before Trump took office, while Brent’s June contract approached $75. Crude extended its advance on data showing lower-than-expected US production and positioning changes from algorithmic traders.