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Oil trickled down on Thursday, hovering around two-month lows, as the proposed price cap on Russian oil from G7 nations was considered higher than the current trading levels, alleviating concerns over tight supply. A …
The United States and its allies are hoping to establish the price level at which Russian crude oil will be capped, people familiar with the talks told the Wall Street Journal. Officials are talking about setting the price at which …
EU countries had reduced Russian diesel imports by 50,000 bpd to 560,000 bpd by October
Oil prices inched higher on Tuesday as the dollar eased, but global recession worries and concerns about China’s rising COVID-19 case numbers denting demand from the world’s top crude oil importer weighed on sentiment. Brent …
Group of Seven nations aim to announce at what level they will set a price cap on Russian crude oil next Wednesday, according to people familiar with the matter. The Biden administration is expected to privately share a proposed price …
Oil dropped by about 2% on Friday, logging a second weekly decline, due to concern about weakened demand in China and further increases to U.S. interest rates. Brent crude settled at $87.62 a barrel, falling $2.16, or 2.4%. U.S. West …
A week ago, the U.S. Energy Information Administration cut its crude oil demand outlook for 2023 by 320,000 bpd, with supply also falling, by 300,000. This week, OPEC also revised down its oil demand forecast for next …
Russia’s oil export duty will go up by $0.6 to $43.3 per ton starting December 1, 2022, the Finance Ministry reported on Tuesday. The average price of the Urals crude oil amounted to $71.1 per barrel, or $519.2 per ton, in the …
The European Union is “ready to go” with an effort to impose a price cap on Russian oil, Ursula von der Leyen, the president of its executive arm, said Monday. “We have set all the tools necessary in place in the …
According to trading data on the London ICE exchange, today, Brent with delivery for January rose to above $99 per barrel for the first time since August 30. By 18:33 Moscow time, the price of Brent rose by 0.53%, reaching $99.09 per …
China’s crude oil import levels will continue to be one of the factors to watch in the oil market this winter, but the world’s top importer will have a relatively limited influence on an oil market buffeted by an energy crisis, …
Oil prices settled up by more than 5% on Friday amid uncertainty around future interest rate hikes by the U.S. Federal Reserve, while a looming EU ban on Russian oil and the possibility of China easing some COVID restrictions supported …
The Biden administration’s effort to roll out a price cap on Russian oil has hit delays, as the Treasury Department tries to ease industry concerns about the novel sanctions regime at the center of the West’s economic battle …
Oil steadied on Friday as investors weighed the impact of sharp interest rate rises on energy consumption, offsetting hopes of higher Chinese demand and output cuts by OPEC and its allies. Brent crude was down 2 cents at $92.36 a barrel …
Oil prices climbed on Wednesday, paring losses from the previous session, as investors jumped into more risky assets such as commodities amid gains in broader equity markets and on signs of renewed demand from top oil importer China. …
Russia will not supply oil to countries attempting to limit the cost of its raw materials through various caps, Deputy Prime Minister Alexander Novak said during the Russian Energy Week forum. "It is unclear where this figure has …
U.S. Treasury Secretary Janet Yellen said that a price cap on Russian oil exports in the $60-a-barrel range would likely be sufficient to reduce Moscow's energy revenues while allowing profitable production. Yellen told an event at …
Oil rose on Friday and was headed for a second consecutive weekly gain supported by OPEC+'s decision to make its largest supply cut since 2020 despite concern about recession and rising interest rates. Brent crude was up 0.61% to …
Saudi Arabia is raising oil prices for the US market again, while lowering them for Europe and leaving them largely unchanged for Asia. November shipments of Arab Light crude to Asia from state-run producer Saudi Aramco will remain …
Countries participating in the OPEC+ agreement extended the deal until the end of 2023 and agreed to reduce oil production by 2 mln barrels per day from November, according to the final communique posted on the OPEC’s website. …
