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Crude Oil Brent Feb '16 (CBG16)

31.03s +0.72 (+2.38%) 01/14/16 [ICE/EU]
N/A x N/A N/A x N/A
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Crude Oil Brent Prices for Thu, Jan 14th, 2016
Find the latest Crude Oil Brent prices and Crude Oil Brent futures quotes for all active contracts below.
Latest futures price quotes as of Sat, Jan 11th, 2025.
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Crude Oil Brent Futures Market News and Commentary

Crude Finishes Sharply Higher as the US Expands Sanctions on Russian Oil

February WTI crude oil (CLG25) Friday closed up +2.65 (+3.58%), and February RBOB gasoline (RBG25) closed up +0.0466 (+2.30%).

Crude and gasoline prices Friday settled sharply higher, with crude posting a 3-month high and gasoline posting a 2-3/4 month high.  Crude rallied Friday after the US ratcheted up sanctions against Russian crude oil.  Also, Friday's stronger-than-expected US Dec payroll report signaled economic strength that supported energy demand and crude prices.   Friday's rally in the dollar index (DXY00) to a 2-year high was bearish for energy prices.

Crude prices found support Friday after the US imposed new sanctions on Russia's oil industry that could curb global oil supplies.  The measures targeted Gazprom Neft and Surgutneftgas, which exported about 970,000 bpd of Russian crude in the first 10 months of 2024, accounting for about 30% of its tanker flow, according to Bloomberg data.  The US also targeted insurers and traders linked to hundreds of tanker... Read more

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