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Barchart
Barchart
Rich Asplund

Crude Rises on Possible Sanctions on Russian and Iranian Crude

Oil United States Russia Iran OPEC Vladimir Putin China

January WTI crude oil (CLF25) today is up +0.80 (+1.14%), and January RBOB gasoline (RBF25) is up +0.0112 (+0.56%).

Crude oil and gasoline prices today are moderately higher and posted 2-1/2 week highs.  The prospects for additional sanctions on Russian and Iranian crude supplies are pushing oil prices higher today.  Also, Russia ramped up air attacks on Ukraine's power infrastructure, further escalating hostilities.  Today's rally in the dollar index (DXY00) to a 2-1/2 week high limited gains in crude prices.  

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