Oil prices have suddenly reversed course, falling almost as quickly as they rose in the early days of the Russian invasion of Ukraine. Go deeper ➡️
The price of West Texas Intermediate — the U.S. benchmark crude oil — tumbled below $97 per barrel on Tuesday, having fallen more than $33 from its peak about a week ago.
The national average price of gasoline — which tends to move in lockstep with oil prices, lagging only a few days as the market catches up — has leveled off in the low $4.30s over the last several days, according to AAA.Whether Russia moves to cut off oil or gas supplies from Western customers, which could lead to another price spike.
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