Crude oil prices recently reached their highest levels in 13 years after President Joe Biden banned all imports of Russian fossil fuels in response to the country's invasion of Ukraine.
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WTI crude oil prices have surged to 11-year highs above $108 per barrel in March in the wake of the Russian invasion of Ukraine. The geopolitical instability has rattled financial markets, but the energy sector is soaring.
Eog Resources Inc's (NYSE:EOG) short percent of float has risen 6.54% since its last report. The company recently reported that it has 6.65 million shares sold short, which is 1.14% of all regular shares that are available for trading.