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Right now, in the seasonally strong late spring period for oil consumption, many countries are putting sanctions on Russia because of the Ukraine crisis.
I am worried that some of these sanctions will backfire, and the price of oil will go parabolic, affecting more than the sanctioning countries, since oil is fungible and the most vital global commodity.
The shut-off of supplies to Bulgaria and Poland last week followed the refusal of those two governments to pay for gas in Russian rubles.