Oil Rises As Market Braces For Disruption Of Russian Energy Supply

Oil prices rebounded from Tuesday’s losses to rise by more than 3% early on Wednesday, as Russia signaled it would want rubles not only for gas but also for oil, metals, and grains. As of 9:34 a.m. ET on Wednesday, ahead of the weekly U.S. oil inventory report from the Energy Information Administration, WTI Crude was up 3.63% at $108.00, and Brent Crude was trading up 3.45% at $114.03. Volatility continued in the oil market this week. Oil slumped early yesterday, with the U.S. benchmark dipping briefly below $100 a barrel after signs emerged…