Capping Russian Oil..There's absolutely no reason for Oil to trade yet on G7 threats of capping Russia's Oil. First, G7 says that it will be a very complicated task and wouldn't be in effect till years end or longer and that it would be very difficult to enforce it. Plus Oil is trending lower and who knows where it will be by year's end, I predict $75 Oil. Plus if Russia decides to turn off the taps to Europe during the winter then that would cause huge casualties for older people who might now be able to afford imported NG and Oil so the G7 really needs to get away from that idea, if the G7 wanted to do something then they should send in troops from Germany, US, Canada, and Britain to aid the Ukraine army and push Russia out of Ukraine. I'm 100% against capping Oil because there are better ways to hurt Russia.
Plus Russia's currency is prompted by Oil and NG sales so if the Oil & NG stopped flowing Russia's currency would tank and the revenues are what's helping to fund Russia's war.
Russia and Ukraine recently came to an agreement to allow wheat sales so Russia stopped blocking shipments so maybe this first negotiation could lead to other positive agreements and maybe one day a ceasefire.
JMHO (always DD)