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Barchart
Barchart
Rich Asplund

Crude Oil Prices Rally on no Breakthrough to end the Ukraine War

Oil OPEC Ukraine United States Donald Trump EIA ISIS Russia

February WTI crude oil (CLG26) today is up +1.43 (+2.52%), and February RBOB gasoline (RBG26) is up +0.0337 (+1.97%).

Crude oil prices are moving sharply higher today after weekend talks to end the Ukraine-Russian war failed to yield a breakthrough.  Also, hopes of stronger Chinese energy demand are lifting crude prices after the Chinese government pledged support to sustain economic growth next year.

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