crude oil

They play a crucial role in fields ranging from pharmaceuticals and batteries to petrochemical operations such as crude oil refining, enabling production systems to meet global demand.

“The refinery must continue working and a new flow of crude oil must be provided as soon as possible,” said Serbian Energy Minister Dubravka Handanovic.

India's Reliance Industries said Thursday it has stopped importing Russian crude oil into its export-oriented refinery, as Western sanctions tighten on products derived from Moscow's barrels.

“Speculation on a peace deal comes just two days before U.S. sanctions on Russia are scheduled to kick in,” notes Mizuho’s Robert Yawger, adding that “peace deal rumors were hammering crude oil and the cracks.”

Cleanup was underway Wednesday in a wooded, remote area of Ventura County after about 420 gallons of crude oil inundated a waterway, officials said, and crews were working to beat the upcoming storm.