Two shipping companies have been targeted for alleged violations of the G7 price cap Global oil prices jumped on Friday after the US began to enforce the G7 price cap restrictions on Russian crude exports, exacerbating concerns over global supply, market data showed. International benchmark Brent crude futures for December delivery surged over 4%, to trade at $89.46 per barrel around 15:40 GMT. US benchmark WTI crude was also up over 4% at $86.34 per barrel. Market experts link the surge with Washington’s new sanctions imposed on Thursday against two owners of tankers carrying Russian oil for allegedly delivering
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