Failure to implement Russian oil price cap could jack up oil prices: US official

The global price of oil could surge by 40% to around $140 per barrel if a proposed price cap on Russian oil is not adopted, along with sanction exemptions that would allow shipments below that price, a senior U.S. Treasury official said on Tuesday. U.S. Treasury Secretary Janet Yellen will discuss implementation of the U.S. price cap proposal and global economic developments with Japanese Finance … Continue reading Failure to implement Russian oil price cap could jack up oil prices: US official