Oil And Gas Prices Veer Back As Markets Fear Russian Crude Ban

Crude oil prices shot up more than 3% on Friday in mid-day trade, with the WTI front-month contract reaching $109.80 per barrel—erasing losses from earlier in the week. Over the last 30 days, WTI has swung from a low of $98.54 to a high of $110.36 as the market susses out market developments that have given rise to a new brand of volatility. Meanwhile, gasoline prices in the United States continue to hit new highs every day, with the current national average sitting at $4.432 for a gallon of regular-grade gasoline. The fear of an EU-driven…