Thursday’s trading brought another and stronger rebound in crude oil prices as the European Union revealed it might phase in a ban on oil imports from Russia.
The rebound came as published reports indicated the Europe Union might adopt the phased-in ban of Russia oil in order to give Germany and other EU members time to find other suppliers.
West Texas Intermediate crude for May delivery settled up $2.70 at $106.95 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude for June delivery closed up $2.92 at $111.70 a barrel on ICE Futures Europe.
Markets in the U.S. and Europe will be closed for Good Friday.
Natural gas continued its climb as gas for May delivery rose 30 cents and closed at $7.30 per 1,000 cubic feet.
Thursday’s trading brought mixed results for Oklahoma energy stocks as some gained and some lost.
One of the big gainers for the day was PHX Minerals with a more than 7% jump in the price of its shares. Cypress Environmental had the same gain for the day.
