CRUDE IN SIGHT

Crude edges up early Fri as Russia sanctions calibration continues - Jan. 17, 2025

  • Crude futures were marginally higher early Friday, reversing nearly half of the modest losses incurred at Thursday’s settle, as the market continued to calibrate the supply impact of the US’ latest round of extensive new sanctions against Russian oil.
  • Also in the mix was the prevailing colder-than-normal northern hemisphere winter, the Israel-Hamas Gaza ceasefire deal, and speculation over the Donald Trump administration’s approach to the Gaza and Ukraine wars as well as Iran and Venezuela, once it takes over the reins in the US on Monday, January 20.

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