Oil Prices Spike As EU Clinches Deal To Ban Most Russian Imports

Oil prices rose early on Tuesday after the EU managed overnight to reach a compromise deal on banning Russian oil imports, expecting to effectively ban 90% of Russia’s oil flows to the bloc by the end of the year. As of 9:02 a.m. on Tuesday, WTI Crude was up 3.54% from Friday’s settlement and was at $119.42. The Brent Crude futures for July, with the contract expiring on Tuesday, were trading up 1.78% at $123.94.  Oil prices are now set for a sixth consecutive months of gains, which is the longest streak of monthly gains in oil…