Oil Prices Hit Highest Levels Since 2008 on Supply Fears

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Go back to Oil Prices Hit Highest Levels Since 2008 on Supply Fears

Oil Spikes Higher on Potential Russian Import Ban

March 7, 2022 6:32 AM EST

Oil is spiking higher this morning on three main headlines:

The Biden administration is considering coordinating a plan with Europe to ban Russian oil importsThe U.S. and Venezuela made little progress in talks to ease sanctionsRussia and China are putting fresh... More

U.S., Venezuela discuss easing of sanctions, make little progress -sources

March 6, 2022 6:51 PM EST

By Marianna Parraga, Vivian Sequera, Matt Spetalnick and Diego Oré

CARACAS/WASHINGTON (Reuters) -U.S. and Venezuelan officials discussed the possibility of easing oil sanctions on Venezuela but made scant progress toward a deal in their first high-level bilateral talks in years, five sources familiar with the matter said, as Washington seeks to separate Russia from one of its key allies.

Both sides used Saturday's meeting in Caracas to present what one of the sources described as "maximalist" demands, reflecting longtime tensions between the Western Hemisphere's main power and one of its biggest ideological foes.

... More