Wednesday, August 12, 2026
Oil hits 3-week high as surprise US stockpile draw adds to supply worries- oil and gas 360

Oil hits 3-week high as surprise US stockpile draw adds to supply worries

(Investing) – NEW YORK  -Oil prices climbed about 1% to a three-week high on Wednesday as a surprise drop in U.S. weekly crude inventories added to a sense in the market of tightening supplies amid export issues in Iraq, Venezuela and Russia. Brent futures rose 94 cents, or 1.4%, to $68.57 a barrel by 10:55 a.m. EDT (1455 GMT), while U.S. West

Oil up, but off highs as Trump warns new Russia sanctions possible- oil and gas 360

Oil up, but off highs as Trump warns new Russia sanctions possible

(Investing) – HOUSTON -Oil prices were up on Friday but retreated from session highs after U.S. President Donald Trump threatened sanctions on Russia if it fails to reach a cease-fire with Ukraine. Trump said in a post on Truth Social that he was “strongly considering” sanctions on Russian banks and tariffs on Russian products because its armed forces continue attacks in