BREAKING: OIL gain extends to 3.5% 📈Chinese state companies stop Russian oil purchases

Key takeaways

Chinese national oil companies Sinopec, PetroChina, CNOOC and Zhenhua Oil will refrain from dealing in seaborne Russian oil
Decision is the effect of concerns around Western sanctions on Russia

Key takeaways

Chinese national oil companies Sinopec, PetroChina, CNOOC and Zhenhua Oil will refrain from dealing in seaborne Russian oil
Decision is the effect of concerns around Western sanctions on Russia

Futures on oil (OIL) gain more tha 3% today, extending gains after the news from China. Chinese national oil companies PetroChina, Sinopec, CNOOC, and Zhenhua Oil will refrain from dealing in seaborne Russian oil at least in the short-term due to concern over sanctions.

Source: xStation5

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