Oil at Four-Month High Amid New Sanctions on Russia

The video discusses the Biden administration's new sanctions on Russian oil, targeting insurance companies, major crude handlers, and oil tankers. These measures aim to reduce Russia's oil exports, potentially affecting 800,000 to 1,000,000 barrels a day, impacting global markets, especially India and China. Analysts predict a gradual increase in oil prices, with Brent possibly reaching $90 per barrel, but not spiking as in 2022. The video also highlights the potential impact of Trump's policies on Iran, which could further influence oil prices.

What is the primary focus of the Biden administration's recent sanctions on Russian oil?

• To increase oil prices globally

• To target insurance companies and major crude handlers

• To reduce oil production in the US

• To support Russian oil exports

Which countries are most likely to be affected by the reduction in Russian crude supply?

• United States and Canada

• Brazil and Argentina

• India and China

• Germany and France

What was the Biden administration's previous approach to Russian oil before the recent sanctions?

• Supporting higher oil prices

• Avoiding disruption to supply

• Encouraging increased imports

• Imposing strict export bans

What could be a potential outcome if the sanctions on Russian oil are effective?

• A significant drop in US oil production

• A surge in oil prices above $100.00

• An increase in oil prices towards $90.00

• A decrease in global oil prices

How might Trump's stance on Iran influence global oil prices?

• By increasing oil exports from Iran

• By enforcing sanctions and reducing Iranian oil supply

• By lifting all sanctions on Iran

• By stabilizing oil prices at $50.00