Asked and answered

[bigtree]

9. he said 'they're going to go up'

...as a result of the sanctions on Russian oil.

True that oil companies enjoy record profits, and the Saudis are resisting increasing production which could ease prices. Also true that Venezuela can help, if they will.

But oil companies have less influence over prices than the traders and speculators. They react to uncertainty like the jittery and reflexive stock market, overreacting in their favor to any disruption or cloudy future.

I'd take a look at the speculation market which drives prices, and their reaction to the uncertainty and disruption resulting in Putin's assault on Ukraine. Of course traders and speculators will always take advantage of chaos, but the blame still falls on Putin first, no matter how oil-producing or oil-consuming nations react or respond.

Pres. Biden has little control over most of that.

Link to tweet