- Oil jumped to the highest level since 2011 Wednesday as Russia’s war on Ukraine escalates.
- OPEC and its allies opted to hold production steady despite the recent surge in prices that pushed oil above $100.
- “There’s no respite. This is a dramatic moment for the market and the world and supplies,” said John Kilduff, partner at Again Capital.
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FIRST ON FOX: A conservative nonprofit on Tuesday announced a new billboard ad in New York City’s Times Square, urging President Biden to reject oil from Russia amid the country’s invasion in Ukraine.
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“Hey Vlad. Screw You!” the billboard states. “Nyet to Russian Oil. Time for American oil. Drill more, pay less. C’mon Joe. This ain’t hard.”