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Barchart
Barchart
Rich Asplund

Crude Oil Pushes Higher on Tighter Russian Supplies and a Decline in EIA Inventories

Oil EIA United States Donald Trump Russia OPEC

December WTI crude oil (CLZ25) today is up +0.681 (+1.13%), and December RBOB gasoline (RBZ25) is up +0.0311 (+1.67%).

Crude oil prices are moving higher today on the outlook for smaller global oil supplies, due to expectations that President Trump will follow through and enforce new oil sanctions on Russia to pressure Russian President Putin into negotiations to end the war in Ukraine.   Crude price added to their gains today after weekly EIA crude inventories unexpectedly fell and gasoline supplies dropped to an 11-month low.  

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