The price of WTI crude oil futures are settling higher after a New York Times article suggested the EU will is looking to phase in a ban on Russian oil. That news sent the price from lower to higher on the day and has the contract trading at the highest level since April 1..

WTI crude oil for May delivery is closing at $106.95 up $2.70 or 2.59%.

The high price reached $107.09. The low price was down at $102.12.