U.S. Resists EU Push to Lower Russian Oil Price Cap

Turns out Washington isn’t buying what Brussels is selling—at least not yet. While the EU is lobbying to lower the G7’s $60-per-barrel price cap on Russian crude to $50 (with Ukraine yelling from the back row for a $30 tag), U.S. officials remain politely unconvinced. A European official attending the G7 finance powwow in Banff, Canada, told Reuters that the U.

S. Treasury team thinks market forces are already doing the heavy lifting. With Brent prices wobbling around $64—and Russia’s Urals blend clocking in at a $10…