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Good morning. Today is Wednesday, December 6th. I'm Julie Morgan. A new report says the G7 oil price cap is mostly a

failure after one year. 23 in me is facing mounting litigation over the

hacking incident and the SEC extends the decision

deadline on an ethereal spot E.T.F. It's been a year since the launch of the

G7 price cap on Russian oil and though the measure has managed to curb some of the country's export revenues

it has failed to live up to its potential that's the message in a new report issued Tuesday by the Center for Research on Energy and Clean Air.

The report said the oil price cap has cut Russia's oil export profits by 14% or nearly $37 billion.

But most of the reductions were concentrated in the first half of the year,

leaving the impact far short of what could have been achieved.

It went on to say that a failure to enforce,

strengthen, and consistently monitor the price cap has allowed Russia to

undo the impact in the second half of the year. The report recommended cutting the price cap in half to just $30 a barrel

and imposing stronger penalties on violators,

such as a 90-day ban on using Western Maritime Services.

Crude Oil futures posted their lowest settlements in five months on Tuesday,

with Front Month Nymex crude for January delivery, closing down 1% to $72.32 a barrel.

And Front Month February Brent Crude also ending down 1% to $77.20 a barrel, the fourth straight daily decline for both benchmarks.

23 and Me disclosed in an SEC filing that it was facing multiple class action claims related

to a major hacking incident last fall. In the filing 23 in Me said it plans to

take a one-time charge of $1 million to $2 million due to the incident.

The charge would consist of expenses for technology consulting services, legal fees, and

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