Oil's Big Jump Has Indecisive Traders To Thank, Not Just Sanctions
A tight futures market can turn headlines into wild price swings. (Photo by TIMOTHY A. CLARY / AFP) (Photo by TIMOTHY A. CLARY/AFP via Getty Images)AFP via Getty ImagesOil prices jumped Thursday after President Donald Trump’s administration announced new sanctions on Russia’s two largest oil companies, Rosneft and Lukoil. The Treasury Department said the move was a response to Moscow’s lack of progress toward ending the war in Ukraine.Brent futures rose 5.7% to $66.15 a barrel, while West Texas Intermediate ...