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The Predictable Unpredictability of Trump's Oil Sanctions
The oil market just had its knee-jerk moment. Prices roared higher after the U.S. blacklisted Rosneft and Lukoil—but traders are already questioning whether President Trump’s sanctions will ever really stick. Oil prices jumped 8% last week, with most of the gains coming on Thursday, the day following the U.S. Treasury Department’s announcement that Russia’s top two producers and refiners would be designated effective November 21. Market Focus Shifts from Glut Fears to Supply Squeeze Anxiety The U.S. sanctions…