Russia rejects $60-a-barrel cap on its oil, warns of cutoffs
Russian authorities rejected a price cap on the country's oil set by Ukraine’s Western supporters and threatened Saturday to stop supplying the nations that endorsed it.
2 years ago
Storage is shown at the Marathon Petroleum Corp. refinery in Detroit, Tuesday, April 21, 2020. The world is awash in oil, there's little demand for it and we're running out of places to put it. That in a nutshell explains this week's strange and unprecedented action in the market for crude oil futures contracts, where traders essentially offered to pay someone else to deal with the oil they were due to have delivered next month.(AP Photo/Paul Sancya)