LONDON—Oil prices edged lower on June 27 in a volatile session as investors waited for any moves against Russian oil and gas exports that might come out of a meeting of leaders of the Group of Seven (G-7) nations in Germany.
The prospect of even tighter supplies loomed over the market as Western governments sought ways to cut Russia’s ability to fund its war in Ukraine, even though G-7 leaders were also expected to discuss a revival of the Iran nuclear deal, which might lead to more Iranian oil exports.
