Oil Companies' 'Moral High Ground' to do Russian Business Shattered

The discussion intensifies to lift the U.S. oil export ban amid the shale boom and heightened tensions between Ukraine and Russia.
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The discussion intensifies to lift the U.S. oil export ban amid the shale boom and heightened tensions between Ukraine and Russia. Bank of America-Merrill Lynch global head of commodities research Francisco Blanch explains to TheStreet's Joe Deaux why the Malaysian Airlines disaster shatters oil companies' moral high ground to do business with Russia. Blanch discusses why Bank of America's average Brent crude price in the second half of 2014 will be $109, while WTI will be about $98 a barrel. Finally, Blanch determines whether Congress will lift the U.S. oil export ban. TheStreet's Joe Deaux has details.