WTI crude is now up $6.50 to $125.77, near the highs of the day.
I think you can consider that as a done deal at this point. The UK is also headed in the same direction. Europeans don't appear to want to follow but the pressure is ramping up. Former French President Hollande wrote an op-ed today calling to ban Russian oil.
Meanwhile, Amena Bakr at Energy Intel says this move from the US dooms an Iran nuclear deal. I'm not so sure about that but I wouldn't fade Amena.
