RE:Embargo and Price Cap ImminentThere are some important points to note in that article:
Crude prices are higher than at any point going all the way back to 2014.
Gas prices are 5x higher than in the past.
An E.U. insurance and service ban on all vessels would constrict supply coming to market.
An embargo supercedes a price cap.
2.4m bbl Russian oil need to find new markets
Russia may have trouble getting oil to market if it cannot find enough tankers operating outside sanctions.
Russia says it wll not supply countries cooperating with a price cap and they have already shown a resolve when they cut off gas and oil for those not willing to pay in ruples.
OPEC dislikes the price cap but it will be to OPEC's benefit if caps take Russian oil off the market creating a supply shortfall and price hike. That will incentivize OPEC not to increase production.