Oil prices steady as Russia announces relaxation in fuel export ban, Brent slightly up to $93.4/bbl
The prices of crude oil experienced a decline in the previous week, prompted by the Federal Reserve's adoption of a more aggressive monetary policy stance
Russia's relaxation of the fuel ban kept the oil prices steady on Monday, but the demand concerns persisted amid a tighter supply outlook and suspense over high interest rates. Moscow has announced some relaxations to its fuel export ban and lifted restrictions on fuel for bunkering some vessels and diesel with high sulfur content. The restrictions are still in place for all types of gasoline and high-quality diesel, as per a Reuters report.
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