
BP PLC (NYSE:BP) and Shell PLC (NYSE:SHEL), are trading higher Tuesday amid continued strength in oil prices in the wake of Russia's invasion of Ukraine.
The United States and its European allies have been discussing banning Russian oil imports over the last week, which has fueled the rise in oil stocks. President Joe Biden on Tuesday announced the U.S. will be targeting the "main artery of Russia's economy" by banning all imports of Russian oil and energy.