Group 1 - The U.S. has rejected Europe's proposal to lower the price cap on Russian oil from $60 to $45 per barrel, which has diminished hopes for a production cut agreement among G7 leaders [1] - The EU and the UK are seeking to lower the price cap to further reduce Russia's oil revenue, which is seen as crucial funding for its war against Ukraine [1] - There are indications that the EU and the UK may explore lowering the price cap without U.S. involvement, as most Russian oil is transported near European waters [1] Group 2 - Following recent attacks by Israel on Iran, WTI crude oil prices surged over 13% in a single day, marking the largest daily increase since March 2022 [2] - The combination of policy disagreements and market volatility is creating a more unpredictable energy market environment for investors [5]