Ratcheting up sanctions on Russian oil may be the key to Trump's plan to end the war in Ukraine
"I will be 100% on board with taking sanctions up," Treasury Secretary-pick Scott Bessent told lawmakers on Thursday.
Donald Trump’s Treasury pick stresses need for tougher sanctions on Russian oil
The comments on Thursday by Donald Trump’s nominee to be Treasury secretary pushed up oil prices, as traders considered the prospect of tighter global crude supply. The new administration is also expected to target Iranian and Venezuelan oil with tougher sanctions as Trump seeks to increase economic pressure on the US’s adversaries.
Trump's Treasury Pick Bessent Calls for Stronger Sanctions on Russia Over Ukraine War
President-elect Donald Trump's pick for Treasury Secretary, Scott Bessent, said he "100%" supports raising sanctions on Russian oil producers if the future president requests doing so. Bessent told U.
Trump Treasury pick Bessent backs Fed independence, dollar, sanctions on Russian oil
President-elect Donald Trump's pick for Treasury secretary, Scott Bessent, said on Thursday that the dollar should remain the world's reserve currency, the Federal Reserve should stay independent and that he is ready to impose tougher sanctions on Russia's oil sector.
Bessent says he’ll seek tougher Russian oil sanctions if Trump asks
The Treasury secretary nominee supports tightening sanctions on the Russian oil sector “to levels that would bring the Russian Federation to the table.”
Trump's treasury nominee backs stricter sanctions on Russian oil to facilitate talks
Scott Bessent, Donald Trump's nominee for US Treasury Secretary, has stated that he would fully support tightening sanctions on Russia to help pave the way for negotiations aimed at ending the war in Ukraine.
Oil ends lower, with U.S. prices failing to hold above $80 a barrel
Oil futures settled lower on Thursday, pulling back as news of an Israel-Hamas cease-fire deal helped to ease some worries ...
2025 U.S. Oil Outlook: Don’t Count On A ‘Drill Baby Drill’ Mentality
Administrations can only do so much when it comes to global supply and demand dynamics, and there is probably going to be ...
Oil giant BP axing thousands of jobs
The British oil giant told employees in a memo Thursday that it would slash around 4,700 jobs this year. The company also ...
Oil Prices Are Up, But Oil Stocks Are Not. Why Energy Markets Have Gotten So Unpredictable.
Crude prices are up, in part, on new U.S. sanctions on Russian oil. But sanctions have proven not be a good reason to invest.
US drillers cut oil and gas rigs to lowest since Dec 2021, Baker Hughes says
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row to the lowest ...
Big Oil celebrates the return of Trump. Clean energy braces for trouble
Donald Trump is heading back to the White House, promising to turbocharge American fossil fuels by slashing red tape.
Oil prices end higher as traders weigh demand prospects, supply risks
Oil futures settled higher Wednesday, finding support after snapping a three-day winning streak that had been driven in part ...
IMF lowers 2025 Saudi Arabia growth forecast on extended oil production cuts
The International Monetary Fund has lowered its 2025 GDP growth projection for Saudi Arabia to 3.3%, mainly due to extended ...
Has China already reached peak oil?
The implications of China hitting peak oil are enormous. If Chinese demand is reaching a plateau that would fulfil ...
Oil Futures Beat a Technical Retreat
Oil futures pull back from five-month highs reached on supply concerns around U.S. sanctions and winter heating fuel demand. "Crude oil finally caved under pressure from an overbought RSI," Mizuho's ...
Sanctions and trade barriers set to remain in focus for oil as Trump takes office
Oil posted a loss in Friday’s trading session but tallied a fourth straight weekly rise, with sanctions and trade barriers likely to [remain in focus as President-elec ...
Oil output, exports drove Guyana economy's growth of 43.6% in 2024
Guyana's economy achieved its fifth consecutive year of double-digit growth in 2024, expanding 43.6% as oil output and ...