Goldman Sachs’s Jeff Currie says supply constraints in the global oil market are the biggest since the 1970s. Oil reversed earlier losses as traders assessed the talk of fresh sanctions following Russia’s invasion of Ukraine. West Texas Intermediate edged above $103 after trading in a choppy range of more than $7 so far this week. The U.S. and its allies are coordinating on a new round of sanctions to punish the Kremlin for the alleged murder of civilians by its troops in Ukraine. The European Union won’t yet sanction oil, but European Commission President Ursula von der Leyen said the bloc will push ahead with a debate among members on tackling Russian oil. Oil prices surged by a third in the first quarter as the Russian invasion and backlash from the EU and U.S. roiled markets. While the U.K. and Washington have moved to bar Russian crude, it’s […]