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Barchart
Rich Asplund

Crude Prices Jump on Tighter Global Supplies as US Sanctions Russian Energy

Oil United States Russia OPEC

February WTI crude oil (CLG25) Monday closed up +2.25 (+2.94%), and February RBOB gasoline (RBG25) closed up +0.0254 (+1.22%).

Crude and gasoline prices Monday settled moderately higher, with crude posting a 5-month high and gasoline posting a 3-month high.  Crude prices Monday added to last Friday's gains after the US increased sanctions against Russian crude oil, threatening to tighten global supplies.   Monday's rally in the dollar index (DXY00) to a 2-year high is bearish for energy prices.

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