Fears of a global economic shock from Russia's invasion of Ukraine have caused a new surge in oil prices.
Moscow has hit back and warned of huge repercussions should Western allies impose a ban on oil imports from Russia.
Economist Christof Ruehl from Columbia University's Center on Global Energy Policy shares his views on the situation. Mr Ruehl is currently in Houston, Texas, where he is a guest speaker at the global energy conference, CERAweek.
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