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As gas prices rise, President Joe Biden announced the U.S. will no longer import Russian oil.

Oil bears and bulls grapple as market puzzles over pandemic exit Trading in oil futures is now as heavy as it was in the first months of the COVID-19 crisis, according to market data and analysts, with oil bulls and bears rushing to hedge against jolts in the steady rise of prices. Oil futures have already recovered to pre-pandemic levels, with Brent crude futures spiking $55 in less than a year to $70 a barrel this week while actual fuel demand remains weak. But speculation over when and if people will begin to travel and commute as they once did is driving dueling bets in the market and his...

Oil prices are up as uncertain traders bet on demand recovery Speculation over when and if people will begin to travel and commute again is driving dueling bets in the market and historic volumes of trade 17 March 2021 - 11:57 Noah Browning Picture: 123RF/PIX NOO London — Trading in oil futures is now as heavy as it was in the first months of the Covid-19 crisis, according to market data and analysts, with oil bulls and bears rushing to hedge against jolts in the steady rise of prices. Oil futures have already recovered to pre-pandemic levels, with Brent crude future...