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Oil Rallies After Russian Flows Halted Via Key Pipe to Europe

Brent futures rose as much as 1.6% to trade near $98 a barrel, after earlier dropping 1.8%. Russian network operator Transneft said Ukraine halted flows through the Druzhba pipe toward Hungary, the Czech Republic and Slovakia on Aug. 4 as sanctions prevented Moscow’s transit payments. That section of the link usually carries about 250,000 barrels a day, Transneft data show.

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