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Barchart
Barchart
Rich Asplund

Crude Rallies as US Sanctions on Russian Oil Tighten Global Supplies

Oil United States Russia OPEC

February WTI crude oil (CLG25) today is up +2.15 (+2.81%), and February RBOB gasoline (RBG25) is up +0.0391 (+1.88%).

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

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