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Russia pocketing billions from two weeks of war in Iran, data shows

Russia’s oil earnings have increased since the start of the war in Iran, data shows, as the ongoing conflict has halted oil shipments through the Strait of Hormuz and raised global energy prices. ADVERTISEMENT ADVERTISEMENT Data from the Centre for Research on Energy and Clean Air (CREA) shows that Russia…

Bessent rules out government intervention in oil futures market during Iran war

Treasury Secretary Scott Bessent said the U.S. government will not intervene in oil futures markets even as the administration moves to offset supply disruptions tied to the Iran conflict, arguing that Washington’s response will focus on boosting physical crude availability instead. “We’re absolutely not doing that,” Bessent told FOX Business’…