Oil Prices Remain Near Four-Month Highs as Markets Weigh Russia Sanctions Impact

OIL PRICE - BEIJING. Oil prices slipped at market open on Tuesday but remained near four-month highs as Chinese and Indian buyers sought new suppliers in the wake of the Biden administration's toughest sanctions yet on Russian oil.

Brent LCOc1 futures slipped 22 cents, or 0.27%, to $80.79 a barrel by 0122 GMT, while U.S. West Texas Intermediate (WTI) crude fell 16 cents, or 0.2% to $78.66 a barrel.