COMMODITY
Crude oil futures settle higher on Friday
Mar-08-2025
Crude oil futures settled higher on Friday, after President Donald Trump threatened to impose sanctions on Russia over its continued attacks on Ukraine. A sharp decline in the U.S. dollar and geopolitical uncertainties also helped lift oil prices as investors grappled with an increasingly complex landscape. Some support came after a Russian deputy prime minister reportedly said OPEC+ could reverse its decision to begin increasing production next month if the market appears unbalanced.

Benchmark crude oil futures for April surged $0.68 or about 1.02% at $67.04 a barrel on the New York Mercantile Exchange. Brent crude futures increased $0. 90 or 1.3% to settle at $70.36 a barrel on London's Intercontinental Exchange.

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