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Barchart
Barchart
Rich Asplund

Crude Rallies on Russian Tensions and Tighter EIA Inventories

Oil EIA Russia United States OPEC Donald Trump NATO Ukraine

November WTI crude oil (CLX25) today is up +1.19 (+1.88%), and November RBOB gasoline (RBX25) is up +0.0186 (+0.96%).

Crude oil and gasoline prices are climbing for the second day today, with crude posting a 3-week high.  Concerns about Russian crude supplies are lifting prices today after President Trump ramped up his rhetoric against Russia and after NATO promised a "robust" response to Russian incursions into its airspace.  Crude prices extended their gains today after weekly EIA crude inventories unexpectedly fell to an 8-month low.

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