Crude oil made gains on limited supplies from Russia and Iran

Energy needs around the world, ranging from limited supplies from Russia and Iran and anticipated higher demand from China drove crude oil prices higher on Tuesday.

The small amounts of oil coming from Iran and Russia are due in part to U.S. sanctions against the two countries.

Here’s what happened. U.S. benchmark West Texas Intermediate crude rose 69 cents or 0.94% to settle at $74.25 a barrel on the New York Mercantile Exchange.

The global standard, Brent crude, gained 75 cents or 0.98% and closed at $77.05 a barrel.

The 22 cent slide by natural gas amounted to a 6.07% decline to $3.45.

Most Oklahoma energy stocks recorded gains in Tuesday’s trading. Gains were moderate while one big increase, nearly 6%, was seen by Canoo.