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Oil Holds Steady With Focus on Russian Trade, Looming Oversupply
Oil extended a gain from last week, as traders weighed moves to crack down on Russian flows against forecasts for a surplus later in the year.
Brent traded above $67 a barrel, after adding 2.3% last week, while West Texas Intermediate was around $63. US President Donald Trump reiterated calls that Europe must stop buying oil from Russia, after earlier saying he’s prepared to move ahead with “major” sanctions on crude supply from the OPEC+ member if NATO countries do the same.