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Rich Asplund

Middle East Supply Constraints Lift Crude Oil Prices

Oil crude oil Energy Saudi Arabia United States IEA OPEC Iran Israel Russia

October WTI crude oil (CLV26) closed up +1.34 (+1.34%) on Monday, and October RBOB gasoline (RBV26) closed up +0.0099 (+0.30%).

Crude oil and gasoline prices settled sharply higher on Monday, with crude posting a 3.75-month high. Energy prices are rallying on fears that global oil supplies will tighten further after Saudi Arabia shut down its key East-West pipeline after attacks by Houthi rebels.

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