Oil Price Continues Rising After Russia Bans Exports | WTI Crude News & Chart Analysis

The oil price for WTI Crude has been rising again, after Russia imposed a temporary ban on diesel and gasoline exports. The country has been experiencing shortages because of disrupted supplies and economic strain related to the war in Ukraine.

Oil prices are having a choppy trading session on Monday with the WTI oil chart initially showing a rise of 0.6% but in the afternoon the price dropped below $90 and is trading at $89.16 at the time of writing.

Markets are discussing the possibility of the oil price reaching $100 for the first time in years, which could fuel inflation and potentially make the case for additional rate hikes.

Where do you think the price of WTI crude will be by the end of October? Let us know in the comments and make sure to subscribe to the Capital.com channel for more oil news and chart analysis.

00:00 Intro
00:13 Crude oil price news update
07:55 Crude oil price chart analysis
13:29 Recap

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