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Barchart
Barchart
Rich Asplund

Crude Prices Climb on Signs of Tighter Global Supplies

Oil crude oil United States OPEC Ukraine Russia Bessent

October WTI crude oil (CLV25) today is up +1.26 (+1.97%), and October RBOB gasoline (RBV25) is up +0.0660 (+3.35%).

Crude oil and gasoline prices are sharply higher today and posted 1-month highs.  Concerns over tighter global oil supplies are pushing crude prices higher today after Ukraine's attacks on Russian refineries have cut Russia's crude-processing runs to a 3-year low.  Also, comments from US Treasury Secretary Bessent were bullish for crude when he said the US would look at additional sanctions on Russia for prolonging the war in Ukraine.  

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