Oil prices rally as fresh U.S. sanctions on Russia threaten global supplies
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 10 2025
0mins
Source: MarketWatch
Oil Prices Surge: Oil futures closed significantly higher, reaching their highest levels since early October, driven by new U.S. sanctions on Russia's oil sector and anticipated increased demand for heating fuels due to winter storms in the U.S.
Market Performance: Both WTI and Brent crude recorded weekly gains, with Friday's prices marking a strong finish after a brief stall at the start of 2025.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
