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U.S. crude oil spikes to 13-year high of $130 overnight, then gives up most of that gain

cnbc.com · 553 words · saved by 1 readers

U.S. oil surged on Sunday evening as the market continued to weigh supply disruptions from Russia in its ongoing war with Ukraine.

watch now Oil prices gave up most of their big overnight gains in a wild session, briefly dipping into negative territory after surging above $130 earlier in the session. On Sunday evening, prices jumped as trading began with the market reacting to supply disruptions stemming from Russia's ongoing invasion of Ukraine and the possibility of a ban on Russian oil and natural gas. But prices later retreated, in a move that Rebecca Babin, senior energy trader at CIBC Private Wealth, attributed to comments out of Germany that the nation is reluctant to ban Russia energy imports. The oil and…

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