US oil records its lowest level this year

Oil prices fell by more than 1% for three consecutive sessions, and US crude fell to its lowest level this year, with Brent crude closing below $80 a barrel for the second time in 2022, and American Petroleum Institute data showed that US crude oil inventories fell by 6.4 million barrels last week. While gasoline and distillate inventories rose.

Deputy Prime Minister Alexander Novak said that Russia will not sell oil to anyone who adheres to the price ceiling. Russia's production of oil and gas condensate in the January-November period increased by 2.2% compared to last year. Brent crude futures fell $3.33, or 4%, to $79.35 a barrel, and US West Texas Intermediate crude futures fell $2.68, or 3.5%, to $74.25 a barrel, its lowest settlement this year.