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Barchart
Barchart
Rich Asplund

Crude Oil Prices Higher on Venezuelan and Ukraine-Russia Risks

Oil United States Ukraine Venezuela OPEC Russia EIA Stock Market

January WTI crude oil (CLF26) today is up +0.51 (+0.91%), and January RBOB gasoline (RBF26) is up +0.0309 (+1.81%).

Crude oil is higher today on continued geopolitical risks in Venezuela and Ukraine-Russia.  Also, today's higher trading in the US stock market is supportive of the outlook for the economy and energy demand.  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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