<p>Bloomberg <a target=“_blank“ href=“https://www.bloomberg.com/news/articles/2022-10-21/us-eyes-russia-oil-cap-above-60-in-bid-to-keep-supply-flowing?leadSource=uverify%20wall“ target=“_blank“ rel=“nofollow“>reports </a>that the US may aim to set the Russian oil price cap above $60 per barrel. That’s higher than previously the $40-60 range previously signaled.</p><p>I’m starting to get the sense that the White House is looking for any kind of win it can get with this hair-brained idea.</p><p>WTI crude oil futures settled up 54-cents to $85.05 today after falling as low as $83.15. Oil turned when the US dollar reversed and finishes the week down about 50-cents.</p>

This article was written by Adam Button at forexlive.com.