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Barchart
Rich Asplund

Geopolitical Risks From Russia Boost Crude Oil Prices

Oil United States Russia NATO OPEC EIA Ukraine

November WTI crude oil (CLX25) on Tuesday closed up +1.13 (+1.81%), and November RBOB gasoline (RBX25) closed up +0.0218 (+1.14%).

Crude oil and gasoline prices moved sharply higher on Tuesday on concerns about Russian crude supplies after NATO promised a "robust" response to Russian incursions into its airspace.   Crude prices fell back from their best levels after Tuesday's economic reports showed weaker-than-expected manufacturing activity in the Eurozone and the US, a bearish factor for energy demand and crude prices.

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