U.S. crude oil tops $130 a barrel, a 13-year high on possible Western ban of Russian oil

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(Worthy News) – U.S. crude surged more than 8% in early trading on Sunday evening as the market continued to react to supply disruptions stemming from ’s ongoing invasion of and the possibility of a ban on Russian oil and natural gas.

West Intermediate crude futures, the U.S. oil benchmark, traded 8% higher to above $125 a barrel, the highest since July 2008. At one point the price rose to $130.50 Sunday evening before retreating.

The international benchmark, Brent crude, traded 9% higher to $128.60, also the highest price seen since 2008. Brent hit a high of $139.13 at one point overnight. [ Source: MSNBC (Read More…) ]

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