Oil prices are nearing $100 a barrel, throwing a spanner into the US Federal Reserve's fight against inflation — but at least one party would be rejoicing: Russia.
Oil prices have gained recently on the back of supply cuts from major energy producers Saudi Arabia and Russia.
The production cuts have sent oil prices up over 10% so far this year and are likely benefiting Russia and its war chest, according to a Financial Times analysis of shipping and insurance records, the outlet reported on Sunday.
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