Good morning, readers. I'm Phil Rosen, reporting from New York City for the first time since December. Frosty air notwithstanding, it's good to be back. 

In case you missed it, this weekend I caught up with Kpler lead oil analyst Matt Smith to talk about Europe's new sanctions on Russian refined oil products

I found the conversation to be a good primer on how the additional February 5 sanctions might impact Moscow — you can read it here.

Now let's turn to the stock market.


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