Oil rose as EU plans phase-in ban on Russian barrels

International benchmarks for crude oil registered another session of gain on Thursday, 14 April 2022 after reports of the European Union moving forward with the plan to ban Russian crude oil in phases. Fear over the supply shortages conquers the market ahead of the long weekend. 

Brent for June delivery added $2.92 or 2.68% to settle at $111.70/barrel. 

WTI for May settlement gained $2.70 or 2.59% to close at $106.95/barrel.