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Oil declines as market watches Russian pipeline

Russia says Ukraine has halted the flow in oil pipeline Druzhba as sanctions against the former country have blocked fee payments.

Photo: BERNADETT SZABO/REUTERS / X02784

Crude oil receded slightly early Wednesday morning as the market keeps an eye on when Russian oil pipeline Druzhba will reopen its flow to Europe.

The pipeline runs from Russia to Hungary, the Czech Republic and Slovakia. Russia says Ukraine was the one to halt the pipeline’s flow as sanctions against the former country have blocked fee payments.

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