Crude Prices Rally on Risks to Russian and Iranian Oil Supplies

Crude Prices Rally on Risks to Russian and Iranian Oil Supplies

July WTI crude oil (CLN25 ) Wednesday closed up +0.95 (+1.56%), and July RBOB gasoline (RBN25 ) closed up +0.0152 (+0.74%). Crude oil and gasoline prices rallied Wednesday on concern the US might ramp up sanctions on Russian crude exports since Russian President Putin refuses to agree to a ceasefire...

Oil takes advantage of geopolitical risks and the status quo of the Opep+ Admin FCE 28 May 2025 - 21:20 Oil prices advanced on Wednesday, driven by geopolitical risks in the Middle East and Russia, between two meetings of the members of the Organization of Petroleum Exporting Countries and its allies (Op+).The price of the Brent barrel of the North Sea, for delivery in July, was just 1.26% at 64.90 dollars.His American equivalent, the barrel of …

Oil Prices Climb Amid Geopolitical Uncertainty and Sanction Risks - Channelchek

Key Points:– Oil rises on U.S.-Iran tensions and Russia sanctions threat.– OPEC+ holds steady but may boost output in July.– Prices stay volatile amid supply risks and demand concerns Oil prices edged higher Wednesday as traders reacted to a flurry of geopolitical developments that could disrupt supplies from two of the world’s key producers: Russia and Iran. West Texas Intermediate (WTI) crude rose by 1.6%, settling just below $62 a barrel. The…