The U.S. Calls On Russia To Cap Soaring Oil Prices

As crucial mid-term congressional elections in November draw near, the Trump administration is feeling the heat over higher oil prices. London-traded global oil benchmark Brent breached the $80 per barrel price point on Wednesday, its highest level since May 2. NYMEX-traded U.S. oil benchmark West Texas Intermediate Crude (WTI) reached over $70 per barrel on Wednesday. While both benchmarks pared gains on Thursday, moving back from four month highs, as investors focused on risk from the ongoing emerging market crises and trade disputes that could…