Oil Price Russia sees no need to reduce its output of petroleum products as the EU embargo on imports of Russian fuels kicks in on February 5, Russian Energy Minister Nikolai Shulginov said on Friday. “We will analyze what the effects of the embargo will be. So far we have no reason to believe that we will see a sharp reduction in
Nasdaq MOSCOW – Western oil tankers ramped up their shipments of Russian crude in January as prices for Moscow’s flagship Urals grade held below an international price cap, according to market sources and Eikon data. The Group of Seven nations (G7), Australia and the 27 European Union countries placed a price limit on Russian crude oil of $60 per barrel on Dec.
CNBC Oil prices extended losses on Monday as looming increases to interest rates by major central banks and signs of strong Russian exports offset rising Middle East tension over a drone attack in Iran and hopes of higher Chinese demand. Investors expect the U.S. Federal Reserve to raise rates by 25 basis points on Wednesday, followed the day after by half-point
CNBC Russia’s announcement of an oil export ban on countries that abide by a G-7 price cap is the latest sign that we’ve entered a new era for global energy markets, according to analysts. But they also note it’s unlikely to have a short-term impact on oil prices, with markets taking their cues from data and concrete actions rather than words.
Oil Price Europe will find it difficult to replace Russian crude oil and product supply once the full effect of the EU embargoes on Russian petroleum products is felt, according to Russian Deputy Prime Minister Alexander Novak. “Europe used to be a key market for the sale of our oil products. Let us wait and see which decisions they
Nasdaq For the energy industry, 2022 will be remembered as the year Russia’s invasion of Ukraine accelerated a global energy crisis. The invasion, and subsequent Western sanctions, heaped new pressures on oil and gas supplies already strained from the rapid economic rebound from the pandemic. The world’s top energy companies beat a hasty retreat from Russia and wrote off tens of
Yahoo Finance MOSCOW – Russia, the world’s biggest exporter of energy, could cut oil production and will refuse to sell oil to any country that imposes the West’s “stupid” price cap on Russian oil, President Vladimir Putin said on Friday. The Group of Seven major powers, the European Union and Australia last week agreed a $60 per barrel price
Nasdaq WASHINGTON – When U.S. officials first floated the idea of capping Russian oil export prices in response to a planned European embargo in March, they pledged to squeeze revenues to Russia’s war machine, while avoiding a devastating oil price spike. But keeping Russian oil on the market and global prices low soon became the bigger priority as oil
Oil Price The price cap of $60 per barrel for Russian oil devised by the G7 and supported by the European Union comes into effect today, aiming to curb Russia’s revenues from oil exports while keeping flows into the international market flowing. The cap was agreed upon just before the deadline by the European Union after holdouts including Poland and
BOE Report Oil prices on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and the start of a G7 price cap on Russian crude. At the same time, in a positive sign for fuel demand in the world’s top oil importer, more Chinese cities eased COVID-19 curbs over the weekend. WTI crude futures gained $2.30,
Oil Price When the U.S. Treasury Secretary proposed capping the price of Russian export oil to curb Moscow’s revenues, oil prices spiked. The reason was that the price cap, aimed at reducing Russia’s means of funding the war in Ukraine, was seen as a risky move that could prompt Russia to respond by suspending oil exports. Indeed, Russia’s reaction was
Nasdaq NEW YORK – The Biden administration broke its silence on Wednesday on European Union deliberations over a $65-70 per barrel Russian oil price cap on Wednesday, warning far-lower prices cited for some Russian Urals crude shipments should be approached with caution. A U.S. official told Reuters that recently quoted Urals prices in the $52-a-barrel range do not
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
