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Barchart
Barchart
Rich Asplund

Crude Oil Prices Continue Higher on Recent Oil Tanker Disruptions

Oil OPEC United States Ukraine Venezuela EIA Russia Stock Market

January WTI crude oil (CLF26) today is up +0.51 (+0.91%), and January RBOB gasoline (RBF26) is down -0.0024 (-0.14%).

Crude oil today is higher on continued concern about oil risks related to Venezuela and Ukraine-Russia.  Other bullish factors included the weaker dollar and the slightly stronger stock market.  Crude prices have carry-over support from last Friday's news from Baker Hughes that active US oil rigs fell to a 4.25-year low, which implies reduced US crude oil production.  

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