Crude prices fell on the prospect of global supplies being bolstered by further strategic stock releases, while demand in China remains subdued. Atlantic basin benchmark North Sea Dated was $11.52/bl lower, settling on 7 April at $97.98/bl, while US marker WTI fell by $4.25/bl to $96.03/bl. The European Parliament called on EU member states to agree an “immediate full embargo” on imports of Russian oil, coal, nuclear fuel and gas, and for state-controlled Gazprom’s 55bn m~3/yr Nord Stream 2 gas pipeline project and the operational 55bn m~3/yr Nord Stream 1 to be “completely abandoned”.
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