🛢 CNBC: Brent crude oil prices for the first time in a year and a half have risen to $87 per barrel, while WTI prices surged nearly to $85.

Reuters: the US has issued India a temporary permit to import Russian oil on tankers at sea to ease pressure on the global market. The license will be valid for 30 days.

Indian oil refineries are already urgently purchasing millions of barrels of Russian oil. Half of the oil supplies to India previously came from Arab countries through the Strait of Hormuz, but this route is now effectively shut down due to constant threats of shelling.