The News Craving
Published by
Reuters UK
Reuters UK
By Alex Lawler LONDON (Reuters) – Oil rose on Wednesday after plunging nearly 10% in the last two sessions, buoyed by supply concerns as the European Union works on gaining support for a Russian oil embargo and flows of Russian gas to Europe through a key transit point in Ukraine dried up. The EU has proposed an embargo on Russian oil, which analysts say would further tighten the market and shift trade flows. A vote, which needs unanimous support, has been delayed as Hungary has dug in its heels in opposition. Brent crude was up $2.99, or 2.9%, to $105.45 a barrel at 0950 GMT, while U.S. West …