Summer oil price spike looms if West’s price cap strategy fails: RBC’s Croft

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The West’s latest strategy to increase pressure on Russian oil revenues while also trying to reduce global oil prices could backfire and lead to another painful price spike this summer, RBC Capital Market’s Helima Croft said June 28 during a Carnegie Endowment for International Peace event. G7 leaders are working on a price cap mechanism that would allow Russian oil…