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Risk premium tied to Russia coup attempt may arise when oil markets reopen Monday - Houston Chronicle

Houston Chronicle · last updated

Russia coup attempt may spur oil price rise when markets reopen
A Russian oil cargo ship carrying discounted crude anchored at a port in Karachi, Pakistan. Crude prices have been in a holding pattern for well over a month, and developments in Russia could change the narrative. AP

The situation surrounding the Wagner paramilitary group’s moves in Russia is highly fluid, but oil markets could see a geopolitical risk premium even if the late Saturday stand-down holds.

Yevgeney Prigozhin, the head of the Wagner mercenary group, had by Saturday afternoon Houston time agreed to pull his forces back from what was widely expected to be a military advance on Moscow. His forces had moved as far north from Ukraine as Lipetsk, some 120 miles south of the Russian capital.

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