Investor Alert

New York Markets Open in:

Nov. 23, 2021, 2:42 p.m. EST

Oil ends with strong gains despite release of strategic reserves

Oil futures ended with strong gains Tuesday, as traders appeared to fade a long-anticipated decision by President Joe Biden to release crude from the Strategic Petroleum Reserve as part of coordinated U.S.-led effort by energy-consuming countries. West Texas Intermediate crude for January delivery (NYM:CL00) rose $1.75, or 2.3%, to finish at $78.50 a barrel on the New York Mercantile Exchange.

Link to MarketWatch's Slice.