OIL FUTURES: NYMEX crude, ICE Brent prices soar on talk of Russian oil ban

Crude futures rallied on the open late March 6 on news that the Biden administration is discussing with its European allies a potential ban on Russian oil imports in response to Russia’s military invasion of Ukraine. ICE front-month Brent rallied $21.02 to $139.13/b before slipping to trade at around $129.90/b at 2310 GMT. NYMEX front-month crude rallied $14.82 to $130.50/b…