Energy

Senate passes legislation targeting purchasers of Russian oil and gas - Valley News Live

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DW NOTE

The Senate just sanctioned buyers of Russian energy while 2,000 ships sit idle in the Gulf because Iran closed Hormuz. Russia still sells 3 million barrels daily to China and India — neither of whom care what the Senate thinks. The bill changes where America pretends to draw lines, not where oil actually flows.

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For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor

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Senate passes legislation targeting purchasers of Russian oil and gas - Valley News Live

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