Ukraine Halted Oil Flows to Europe Over Payment Issue, Russia’s Transneft Says

Ukraine Halted Oil Flows to Europe Over Payment Issue, Russia’s Transneft Says
The receiver station of the Druzhba oil pipeline between Hungary and Russia is seen at the Hungarian MOL Group's Danube Refinery in Szazhalombatta, Hungary, on May 18, 2022. Bernadett Szabo/Reuters
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MOSCOW—Ukraine has suspended Russian oil pipeline flows to parts of central Europe since early this month because Western sanctions prevented it from accepting transit fees from Moscow, Russian pipeline monopoly Transneft said on Tuesday.

Benchmark Brent crude oil jumped by $2 per barrel to trade near $98 as the news added to concerns about reduced energy supplies.