We Never See Nothing

(Reuters) -Oil prices settled around 4% higher on Tuesday as the United States banned Russian oil imports and Britain said it will phase them out by year end, decisions expected to further disrupt the global energy market where Russia is the second-largest exporter of crude.

Oil prices have surged more than 30% since Russia invaded Ukraine, and the United States and other countries imposed a raft of sanctions. Russian oil and gas exports were already being shunned before the ban as traders sought to avoid running afoul of future sanctions.

Bitcoin, still within a familiar range, nonetheless avoided major losses as it bounced back to $39,000.

“I don’t know what’s going to happen with the U.S. embargo on the price action. Natural reaction would be that USOIL goes up some more, while risk-on assets are dropping,What are your views on this matter?”