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Oil prices steady as talks begin over Ukraine crisis

Oil prices were steady on Thursday as the U.S. president met other Western leaders and investors waited to see how sanctions would be tightened on Russia over its invasion of Ukraine.

US President Biden and European leaders plan to announce additional sanctions against Russia. Sanctions were unlikely to have a major impact on the oil market because they will probably not include an oil embargo by the EU, as a number of countries that are heavily depend on Russian oil such as Germany have opposed this. The United States and Britain, both far less reliant on Russian crude, have both announced sanctions on oil imports.

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News of Bahrain

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