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Rich Asplund

UNCOVERED: Crude prices surge on global supply risks | History Defined

Oil crude oil OPEC IEA United States Israel Saudi Arabia EIA Iran The Red Sea

October WTI crude oil (CLV26) closed up +4.44 (+4.38%) on Tuesday, and October RBOB gasoline (RBV26) closed up +0.1481 (+4.46%).

Crude oil and gasoline prices rallied sharply for a second day on Tuesday, with crude posting a 3.75-month high and gasoline posting a 3-week high. Supply risks are underpinning crude oil prices as energy exports from the Middle East remain limited, tightening global supplies.

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