Crude oil prices have surged due to growing uncertainties about global supplies, particularly from Russia, Kazakhstan, and OPEC+ countries. West Texas Intermediate (WTI) oil price crossed the $72 per barrel mark, reaching its highest closing price in a week. The gains are attributed to increasing concerns over crude supplies, which is being reinforced by a key technical level that provides support against losses.
Source: https://www.bloomberg.com/news/articles/2025-02-18/latest-oil-market-news-and-analysis-for-feb-19