. In Case You Missed It – Oil Rallies as EU Proposes Phasing Out Russian Supply This Year « JO LEE MAGAZINE

Bloomberg – Oil jumped as the European Union proposed to ban Russian crude over the next six months and refined products by the end of the year.

The EU’s plan is the most significant energy response from the bloc to the war in Ukraine as it seeks to cut reliance on Moscow.  EU is also targeting insurers in a move that could alter Moscow’s ability to ship oil anywhere in the world.

Traders have been keenly focused on just how much the war will affect output from Russia, one of the biggest producers.

Full analysis at Blo0omberg

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