Brent hits 2-month high as potential EU Russian oil embargo tightens supply outlooks
ICE Brent futures settled at two-month highs May 26, breaking out of their recent trading range amid expectations of tighter European supply. Front-month ICE July Brent finished $3.37 higher at $117.40/b and NYMEX July WTI settled up $3.76 at $114.09/b Oil supply outlooks have come under pressure as the EU continues to debate an embargo on Russian oil imports in…