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Rich Asplund

Crude Oil Prices Jump on Global Supply Disruptions

Oil crude oil OPEC Libya The Red Sea the Middle East United States the US Navy Vortexa

February WTI crude oil (CLG24) this morning is up +2.03 (+2.88%), and Feb RBOB gasoline (RBG24) is up +5.71 (+2.73%).

Crude oil and gasoline prices this morning recovered from early losses and rallied sharply on supply disruptions in Libya and increased tensions in the Middle East. Crude prices today initially fell to a 3-week low after the dollar index rallied to a 2-week high and as stocks fell sharply, curbing optimism in the economic outlook.

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