Russian instability and supply fears support US oil prices, impacting sentiment, while Saudi cuts and strong US demand tighten the market.
Aramco's CEO Amin Nasser believes that the oil market fundamentals remain generally "sound" for the rest of the year.
Oil prices edged higher for a second consecutive session on Tuesday, as worries about political instability in Russia and potential supply disruptions counter-balanced concerns about global demand.
Oil futures finished higher on Monday as a brief rebellion in Russia raised concerns over the stability of crude production from one of the world's largest producers. The leader of the Wagner Group, a
Yahoo Finance markets reporter Ines Ferre joins the Live show to discuss the impact of the Wagner mutiny on oil markets.
Russia's oil exports were not hit during the turmoil, but oil traders stay bullish at the start of the week.
Crude oil markets were somewhat negative during the Monday session, as we have pulled back slightly.
Oil futures edged higher early Monday, as traders largely took in stride a short-lived mutiny by Russia's Wagner Group that raised questions about President Vladimir Putin's grasp on power.
Oil prices fell on Monday after a revolt by Russian mercenaries over the weekend, though the political instability did not appear to pose an immediate threat to oil supply from one of the world's larg
Revolt in Russia sparks concerns about stability and oil supply, prompting White House engagement and contingency planning for potential disruptions.
Global oil market fundamentals are expected to remain sound for the rest of the year, underpinned by healthy demand in developing countries, especially in China and India, Saudi Aramco CEO Amin Nasser
An armed rebellion in Russia stoked fears energy supplies would be impacted by potential unrest in one of the world's largest oil producer nations.
Oil prices rose in early Asian trade on Monday after a failed mutiny by Russian mercenaries over the weekend raised concerns about political instability in Russia and the potential impact on oil suppl
U.S. stock-index futures opened near unchanged and attempted to edge higher Sunday night, as investors reacted to chaotic weekend events that saw a short-lived rebellion that pitted the mercenary Wagn
Oil markets are moving away from recent lows despite recession worries.
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