Veteran Trader Andurand Says ‘Hard to Think of a Downside’ to Russian Oil Price Cap
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Veteran commodities trader Pierre Andurand said it’s “hard to think of a downside” to a proposed oil price-cap on Russian crude that’s been floated by US Treasury Secretary Janet Yellen.
Talks are ongoing on how the US and allies might put a limit on the price of Russian oil shipments in a bid to dent revenues feeding Vladimir Putin’s war machine in Ukraine. International crude prices are up more than 50% in the past year -- and almost 20% since Russian forces rolled into Ukraine in late February.