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EU govt's tentatively agree on $60 Russian oil price cap but Poland holds out

EU govt's tentatively agree on $60 Russian oil price cap but Poland holds out

EU government have tentatively agreed to a $60/barrel Russian oil price cap. That's at the bottom end of the range floated yesterday in what's a compromise offer to the Baltic states and Poland.

An adjustment mechanism would keep the price cap on Russian seaborne oil 5% below the market price based on EIA figures. Something like that -- if it works quickly -- would probably mean minimal impact on the market since Russian oil is already trading at a discount larger than 5%.

However... Read More

Posted: Dec 1 2022, 13:47
Author Name: forexlive
Views: 092199

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