WASHINGTON (dpa-AFX) - Crude oil prices rallied from the levels at close on Friday as markets digested the impact of wider U.S. sanctions on Russian oil. Market's expectation that the existing consumers of Russian oil would be forced to source supplies from the Middle East or other producers also boosted prices.
The surge in the prices of the black liquid is despite the resurgence in the Dollar that has lifted the six-currency Dollar Index to a multi-month high of 110.18.
Brent Oil Futures for March settlement is currently trading at $81.17, having rallied 1.8 percent from the previous close of $79.76.
The day's trading ranged between $80.26 and $81.67 whereas the 52-week trading range was between $68.68 and $92.18.
Gains in the past week exceed 6.2 percent. The gain implies a surge of 8.85 percent over the past 30 days and 3.8 percent over the past year. Nevertheless, Brent oil is down 5.8 percent from the levels three years ago.
West Texas Intermediate (WTI) Crude Oil Futures for March settlement increased 1.76 percent from the previous close of $75.75 to trade at $77.08.
Prices ranged between a high of $76.30 and a low of $77.48 in the day's trading. Trading ranged between $65.27 and $87.67 over the past 52 weeks.
Gains in the past week exceed 5.6 percent. Over the past month, the surge exceeds 8 percent whereas the 1-year addition is at 6.2 percent. Prices are however 8.1 percent below the levels three years ago.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
