The European Commission has submitted to member states a new draft of sanctions against Russia, including an oil embargo. Some member states that rely heavily on Russian energy sought exemptions. Western media reported that the European Commission d…
Russia's insistence on paying for Russian gas in rubles has rattled European countries: Greece held an emergency meeting of suppliers, the Dutch government would urge consumers to use less gas, and the French energy regulator told consumers not to pa…
Oil futures tumbled more than $5 a barrel on news that the Biden administration is considering releasing about 1 million barrels a day from the U.S. Strategic Petroleum Reserve (SPR) for several months to cool surging crude prices.Brent crude futures…