President Trump has warned that sanctions targeting Russian oil could take effect in just 10 days. He’s threatening steep tariffs on countries that continue buying Russian oil, signaling that the rates won’t be low.
The possibility of removing Russian supply from global markets has pushed crude oil prices higher.
Technically:
Crude moved back above its 200-day moving average today at $67.97.
The Trump headline added momentum, sending prices to an intraday high of $69.41.
That’s just $0.20 shy of the July 14 high at $69.61, a key resistance level to watch.
The price of crude oil is settling at $69.21 up $2.50 or 3.75%.
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about crude oil runs higher on threat of sanctions on russian oil was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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