Brent surged 18% at the open before paring half those gains Oil soared in Asia — jumping as much as 18% early in the session — after reports that the U.S. was discussing a ban on Russian crude imports sent shock waves through an already-reeling market. Brent quickly pared around half those gains to trade near $130 a barrel, a level that’s still exacerbating fears of a major inflationary shock to the global economy. The Biden administration is considering whether to prohibit Russian oil imports into the U.S. without the participation of allies in Europe, at least initially, according to two people familiar with the matter. That came after Secretary of State Antony Blinken told NBC over the weekend that the White House is in “ very active discussions ” with its European allies about a ban to tighten the economic squeeze on President Vladimir Putin. The U.S. has […]