• EU to resume debate on Russian oil price cap - Bloomberg

    9 days ago - By RT

    Previous attempts to clinch a deal have stalled as some member states called it “too generous” to Moscow
    EU leaders will meet Friday evening to try to once again reach an agreement on setting a price ceiling for Russian crude oil shipped by sea, sources told Bloomberg.
    The bloc's members have previously failed to score a deal designed to cut Moscow's oil revenues. The deadlock persists as EU states have been split over how low the maximum price should be.
    Several nations, including Poland and the Baltic States, oppose the European Commission's proposal to set a $65 to $70 per barrel limit...
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  • Oil prices edge higher despite the West's Russian price cap talks and more Chinese lockdowns

    Oil prices edge higher despite the West's Russian price cap talks and more Chinese lockdowns

    9 days ago - By Business Insider

    A Tesoro oil refinery in Los Angeles. Lucy Nicholson/Reuters
    Oil benchmarks crept higher Friday, with Brent crude at $86.68 a barrel and WTI at $79.76.
    Discussions about western countries capping Russian crude at between $65 and $70 a barrel continue.
    China reported a record number of COVID-19 infections on Friday, sparking fears of slowing demand.
    Oil prices edged higher on low trading volume Friday even as western countries continued their discussions about a price cap on Russian crude and China enforced further lockdown measures. Brent crude traded 1.7% higher at $86.68 a barrel at last...
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