Tracy Shuchart (𝒞𝒽𝒾 )(@chigrl):Russian ESPO oil price exceeds $120 per barrel Russia's ESPO Blend oil jumped above $120 per barrel for the first time since April, boosted by demand ‌from Chinese refiners as the U.S.-Israeli war on Iran disrupts Middle Eastern supplies, three traders said and Reuters calculations showed. US lawmakers on Thursday approved legislation allowing ⁠President Donald Trump to approve tariffs on Russian oil purchases as the US seeks to limit Russia's ability to finance the war in Ukraine. The measure could hamper Russian oil supplies to India and China, although many traders say it could lead to a further spike in oil prices, potentially boosting Russian earnings from oil. (Reuters)

2026.09.18 11:57

Russian ESPO oil price exceeds $120 per barrel Russia's ESPO Blend oil jumped above $120 per barrel for the first time since April, boosted by demand ‌from Chinese refiners as the U.S.-Israeli war on Iran disrupts Middle Eastern supplies, three traders said and Reuters calculations showed. US lawmakers on Thursday approved legislation allowing ⁠President Donald Trump to approve tariffs on Russian oil purchases as the US seeks to limit Russia's ability to finance the war in Ukraine. The measure could hamper Russian oil supplies to India and China, although many traders say it could lead to a further spike in oil prices, potentially boosting Russian earnings from oil. (Reuters)