OIL FUTURES: Prices recede from highs after Russia announces supply ban

Crude futures came off their highs Dec. 27 following news that Russia will ban oil supplies for five months to countries observing the $60/b price. NYMEX front-month crude settled at $79.53/b, down 3 cents, while ICE front-month Brent settled at $84.33/b, up 41 cents. In refined products, NYMEX front-month RBOB settled at $2.3602/gal, down 2.34 cents, and NYMEX front-month ULSD…