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Germany: EU can agree on Russian oil embargo

The European Union may still reach an agreement on the Russian oil embargo in the coming days or look for "other means" if no agreement is reached, German Economy Minister Robert Habeck said at today's G7...

Expands oil profits

Oil prices widen amid rally this week amid signs of limited supply as the EU disagrees with Hungary over plans to ban imports from Russia, the world's second-largest crude oil exporter after it invaded in Ukraine. Brent...

Oil: Profit closure after US crude and gasoline stocks fell

Oil prices closed higher on Wednesday as official data released today showed a drop in US crude and gasoline inventories ahead of Memorial Day weekend, a period of increased driving and fuel consumption. Particularly, The American WTI...

Oil prices are rising due to rising demand

Oil prices are rising today, mainly due to limited supplies and the prospect of rising demand from the upcoming summer travel season in the US, the world's largest consumer of crude oil. Brent rose 44 cents, or...

Orban’s new ‘blockade’ on Russian oil embargo

Hungarian Prime Minister Viktor Orban described an agreement on imposing a European embargo on Russian oil in the coming days as "extremely unlikely" in a letter to European Council President Charles Michel. According to Reuters, the Hungarian...