Oil Prices Surge Amid Geopolitical Tensions
Update: 2025-12-22
Description
Oil prices surged on Monday, with WTI crude up 0.91% and RBOB gasoline rising nearly 2%, as geopolitical tensions in Venezuela and Ukraines attacks on Russian assets tightened supplies. US oil rigs dropped to a four-year low, and inventories remain below average, despite a slight output dip. OPEC+ plans to pause production hikes, but traders remain cautious amid global surplus fears.
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