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Barchart
Barchart
Rich Asplund

Crude Prices Rally on Reduced Russian Supplies and Renewed Middle East Risks

Oil United States Russia OPEC Ukraine EIA

December WTI crude oil (CLZ25) today is up +1.64 (+2.79%), and December RBOB gasoline (RBZ25) closed up +0.0526 (+2.68%).

Crude oil and gasoline prices are sharply higher today, recovering some of Wednesday's sharp sell-off.  Concerns about global oil supplies are bullish for crude prices today after Ukraine launched drone and missile attacks on Russia's key oil export port of Novorossiysk and attacked the Rosneft Saratov refinery in Russia's Volga region, which processes about 140,000 bpd.

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