BNO - EU leaders agree to ban most Russian crude oil imports

Fresh supply concerns in world energy markets sent WTI crude futures (CL1:COM) up 4% to over $119 per barrel for the first time in March, when sanctions began to target Russia for its invasion of Ukraine. Brent crude (CO1:COM) already touched the new symbolic $120 level on Monday, while U.S. gasoline prices surged to another record, dealing a fresh blow to consumers ahead of the summer driving season and peak energy demand. The national average for a gallon of gas is now hovering around $4.62, according to AAA, as millions of Americans come back from their Memorial Day outings and holiday getaways. Next shakeup: EU leaders have reached an agreement to ban 90% of Russian crude by the end of the year as part of a sixth sanctions package the bloc is putting together against Moscow. Seaborne deliveries of Russian oil would be forbidden under the new arrangement, though it would

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EU leaders agree to ban most Russian crude oil imports