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Reuters
Oil prices fall most in 2 years as UAE supports output hike
BENGALURU (Reuters) -Global oil prices fell on Wednesday by the most in nearly two years after OPEC member the United Arab Emirates said it supported pumping more oil into a market roiled by supply disruptions due to sanctions on Russia after it invaded Ukraine. Brent crude futures settled down $16.84, or 13.2%, at $111.14 a barrel, their biggest one-day decline since April 21, 2020. U.S. crude futures ended down $15.44, or 12.5%, at $108.70, their biggest daily decline since November.
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