Oil Rises After Russia’s Putin Threatens to Halt Supply

An aerial view shows oil tanks of Transneft oil pipeline operator at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia, on June 13, 2022. Picture taken with a drone. Tatiana Meel/Reuters

LONDON—Oil prices rose on Wednesday on threats that Russia will walk away from its energy supply contracts, reversing losses from earlier in the session when prices fell to their lowest since Russia invaded Ukraine.

Brent crude futures were up 85 cents, or 0.92 percent, at $93.68 a barrel by 0931 GMT, having earlier hit their lowest since Feb. 18 at $91.20.