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WTI Crude Oil Remain Extending Gain And above To $104 Per Barrel

WTI crude Oil: rose more than 1% to above $104 per barrel on Tuesday, extending gains from the previous session, as the potential for more sanctions following alleged war crimes by Russian troops in Ukraine added to concerns about supply disruptions.

The US and European countries pledged to punish Moscow over civilian killings in northern Ukraine, with French President Emmanuel Macron suggesting sanctions on Russian oil and coal. Japanese industry minister Koichi Hagiuda also said Tuesday that the IEA is still examining details of a planned second round of coordinated release of oil reserves.

Moreover, talks to revive the Iran nuclear deal which could increase Iranian crude exports appeared to have stalled.

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