Crude oil stock price surged to $82.10 following European energy sanctions announcement. High volatility implied in options suggests traders expect sharp price swings. Crude oil and gasoline prices are rising today as a weaker dollar prompts some short covering in energy futures. Also, today's rally in the S&P 500 to a new all-time high shows confidence in the economic outlook that is supportive of energy demand. Gains in crude are limited due to concerns over a global supply glut, as OPEC+ is set to increase its crude production levels. Through September, crude oil prices are down about 12% for the year . But there are factors that could create a bullish setup for crude oil in the next three to six months. Crude oil stock price climbed to $80.05, breaking past key resistance on stronger refinery run rates. Market momentum indicators flash bullish, with potential retest of $82.20 if demand stays on track.