The decision by the U.S. and other major economies to coordinate a release of oil stockpiles will have little impact, says Energy Aspects founder and Director of Research Amrita Sen. Oil soared to the highest since 2008 as buyers continued to shun Russian crude following its invasion of Ukraine, while OPEC+ is doing its best to ignore the war started by one of its key members. West Texas Intermediate was trading near $114 a barrel, while Brent was near $116. Buyers are continuing to avoid Russian crude as they try and navigate financial sanctions on Russia, and traders are betting prices will keep rising. The invasion has sparked supply concerns across commodity markets from energy to metals to grains, prompting consumers including China to scour the globe for raw materials. Surging oil costs are adding to the inflationary pressures on the global economy, boosting the prices of everything […]