Oil jumped more than 5% on intensifying supply concerns

International benchmarks for crude oil extended the rally on Wednesday, 23 March 2022 on intensifying concerns over the global supply tightness after exports from Kazakhstan were disrupted after a storm damaged the Caspian Pipeline Consortium (CPC) terminal in the Black Sea. 

Brent gained $6.12 or 5.3% to close at $121.60/barrel.

WTI rose $5.66 or 5.2% to close at $114.93/barrel.