Oil prices rallied on Wednesday after falling about 10% the past two days on supply concerns as flows of Russian gas to Europe fell and the European Union worked on gaining support for a Russian oil embargo.
Russian gas flows to Europe via Ukraine fell by a quarter after Kyiv halted use of a major transit route blaming interference by occupying Russian forces. It was the first time exports via Ukraine have been disrupted since the invasion.
Brent crude settled up $5.05,
