Oil is becoming a weapon

Oil is becoming a weapon

Welcome back to another Energy Source.

The US Securities and Exchange Commission will demand that companies disclose their own greenhouse gas pollution and those from their energy suppliers — so-called scope 1 and 2 emissions.

And oil prices lurched higher again yesterday, amid news that the EU will discuss imposing its own restrictions on Russian oil. Also bullish: more attacks on Saudi oil infrastructure by Yemen’s Houthi rebels. Saudi Arabia warned that the kingdom couldn’t be blamed if more attacks disrupted global supply — comments taken to be a subtle call for more US support in Riyadh’s war against the Houthis.

The notion of sanctions are the topic of our first note, an opinion piece from Bill Farren-Price, a veteran oil market watcher and director at consultancy Enverus. The US’s sanctions on Russian imports, he argues, have “let the genie out of bottle”: other countries should beware similar measures in future.

Our second is on oilfield services. The big three providers all announced over the weekend that they were pulling out of Russia, just days after the FT reported on their continued presence there. Justin digs into western groups’ pullback from the country and what it could mean for the future of Russian energy.

Also,