Brent at $115 a barrel as European Union weighs Russia oil ban

Crude oil prices stayed strong a fourth day as the European Union weighed a possible ban on Russian crude imports to punish Moscow for its invasion of Ukraine, although some key members remain opposed to such a move for now.

West Texas Intermediate topped $113 a barrel in early trade, after jumping 18% over the previous three days. It was trading around $110-mark at 9 pm IST. Brent Crude swung between gains and losses but its price was little changed at $115.61 a barrel.

Josep Borrell, the EU’s foreign policy chief, said that he expects leaders to discuss,