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Crude Oil Product: Oil prices rise as Trump threatens to suppress Russian oil exports.
Oil prices rose as USA President Donald Trump hinted at possible restrictions on Russian Crude Oil Product exports. WTI increased by 3.1%, closing above $71 per barrel, marking the largest single-day gain since Trump's inauguration; Brent's June contract approached $75 per barrel. The price of oil extended its gains due to data showing USA's Crude Oil Product production was below expectations and algorithmic traders adjusting their positions. NBC News reported on Sunday that Trump expressed he was 'very angry' at Russian President Putin and would consider imposing 'secondary tariffs' on Russian oil buyers if Moscow refused to cease fire with Ukraine. 'The market seems...'
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