Oil heads toward next target of $125 on fear that Russian fuel will be taken off market

The Siem Garnet tugboat delivers a Japanese-made HAKURYU-5 semi-submersible drilling rig to develop the Ayashsky offshore oil field.
Yuri Smityuk | TASS | Getty Images

Oil prices surpassed $100 and could be quickly heading toward a target of $125 per barrel, if traders start to find evidence that Russian fuel has a limited market.