- U.S. Energy Secretary Jennifer Granholm is scheduled to meet with officials from the Quad group of countries, which includes Australia, India, and Japan
- She is expected to use talks with countries including Japan and India to build support for a new effort aimed at capping the price of Russian oil
- “We want to put on the table the option of joining a buyers’ group that will have greater market power to be able to lower the price, and therefore lower the price of Russian oil and lower the profits to Putin,” said Granholm on Monday
- China has discovered its first case of a highly transmissible Omicron subvariant in Shanghai
- The number of new cases rose to 69 from 57 a day earlier in Shanghai and the nation reported 352 new cases on Sunday
- The discovery of the new subvariant and the highest number of daily new cases in Shanghai since May could lead to another round of mass testing, which could hurt fuel demand