Oil rose after Russia cut natural gas supplies to Poland and Bulgaria, escalating Europe’s energy crisis as the war in Ukraine drags on. West Texas Intermediate traded above $102 a barrel after gaining 3.2% on Tuesday. European gas prices surged after Russia halted flows to Poland and Bulgaria, making good on a threat to stop supply to countries that refuse President Vladimir Putin’s demand to pay for the fuel in rubles. Energy market have been gripped by a tumultuous period of trading since Russia’s invasion of Ukraine in February. The U.S. and U.K. have pledged to ban oil imports from the OPEC+ producer, but the EU has struggled for consensus on similar measures. The war continues, despite efforts for a cease-fire. Russia demanded payments in rubles after Moscow was hit by a raft of financial sanctions due to the war in Ukraine. The EU rejected the move in principle […]