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Barchart
Barchart
Rich Asplund

Crude Prices Soar as US and EU Ramp Up Sanctions on Russian Energy

Oil United States Russia European Union OPEC

December WTI crude oil (CLZ25) today is up +2.97 (+5.08%), and December RBOB gasoline (RBZ25) is up +0.0693 (+3.83%).

Crude oil and gasoline prices are moving sharply higher today for a second day, with crude posting a 2-week high and gasoline posting a 3-week high.  Crude prices soared today after the US and the EU ramped up sanctions on Russian energy and energy infrastructure, potentially removing oil supplies from the global market.  

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