Brent and WTI crude traded up Tuesday on the Iranian parliament's threat to stop selling oil to European Union nations that voted for sanctions on January 23.
Light, sweet crude for March delivery on the NYMEX popped $1.50 to $98.41 per barrel. March futures for Brent crude improved $0.30 to finish at $116.23 per barrel.
Among refined products, March reformulated gasoline blendstock was flat on the day finishing at $2.9275 per gallon.
Natural gas experienced another volatile day falling three percent, or 7 cents, to settle at $2.47 per MMBtu.
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