Oil Trades Steady as Market Parses Impact on Russia Energy Curbs

Oil ended the day little changed as traders weighed fresh efforts from the European Union to crimp Russian energy exports.

West Texas Intermediate crude held steady to close near $67 a barrel after the EU agreed to a lower price cap for Moscow’s crude as part of a package of sanctions on Moscow. The measures include curbs on fuels made from Russian petroleum, additional banking limitations and a ban on a large oil refinery in India. The Asian country, which buys large amounts of Russian crude, is a major exporter of refined products to Europe, where markets for fuels like diesel have been tight.