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Tag: oil

Habeck: Germany is not opposed to an oil embargo by Russia

Habeck: Germany is not opposed to an oil embargo by Russia Habeck: Germany is not opposed to an oil embargo by Russia

“Germany is not opposed to an oil embargo from Russia,” German Deputy Chancellor and Economy and Climate Protection Minister Robert Habeck said in Brussels today as he approached the EU’s emergency energy council. “After two months of work, I can say that Germany is not opposed to an oil embargo from Russia. It’s a big […]

Saudi Arabia will expand its oil loan to Pakistan

Saudi Arabia will expand its oil loan to Pakistan Saudi Arabia will expand its oil loan to Pakistan

Saudi Arabia will extend an oil loan to Pakistan and consider shifting dollar deposits as the South Asian country seeks to contain one of Asia’s highest inflation rates and prevent a current account crisis, according to the report. Bloomberg. The kingdom is considering options, including extending the $ 3 billion deposit at the State Bank […]

Interruption in the 3-day series of gains for oil – ‘Jump’ 4.4% for the WTI in April

Interruption in the 3-day series of gains for oil – ‘Jump’ 4.4% for the WTI in April Interruption in the 3-day series of gains for oil – ‘Jump’ 4.4% for the WTI in April

A mixed picture of oil prices, with US crude interrupting a three-day earnings streak on Friday. However, on a weekly and monthly basis, it closed in positive territory, as fears about supplies from Russia outweighed the impact on demand from lockdowns in China. “Oil has started to rise” as the likelihood of a European embargo […]

WTI Hits New Weekly Highs at $107.50

WTI Hits New Weekly Highs at $107.50 WTI Hits New Weekly Highs at 7.50

WTI hit fresh weekly highs at $107.50 on Friday and is targeting last week’s highs above $109.00. Gas tensions between the EU and Russia and the growing risk of an EU embargo on Russian oil imports have supported prices this week. But concerns about demand from China as the country continues to battle its Covid-19 […]

New York Times: EU to impose gradual embargo on Russian oil

New York Times: EU to impose gradual embargo on Russian oil New York Times: EU to impose gradual embargo on Russian oil

The European Union (EU) is likely to adopt a phased-in embargo on Russian oil as early as next week, officials say, according to a New York Times article. their dependence on Russian energy. It took weeks for EU countries to agree on the measure, and intensive talks will continue over the weekend before the Commission […]

Barclays: The cost of the Russian energy embargo – moderate to deep recession in the eurozone

Barclays: The cost of the Russian energy embargo – moderate to deep recession in the eurozone Barclays: The cost of the Russian energy embargo – moderate to deep recession in the eurozone

Her Eleftherias Kourtali An embargo on Russian energy products that would push prices higher would trigger a mild recession, according to Barclays. However, restrictions on gas consumption (bulletin) would lead to a much deeper contraction, which would require strong political support to limit long-term economic damage, such as that applied to the pandemic by the […]

WTI rises to $105.50 on EU reports of a Russian oil embargo deal

WTI rises to $105.50 on EU reports of a Russian oil embargo deal WTI rises to 5.50 on EU reports of a Russian oil embargo deal

WTI rose to its highest level since last Tuesday above $105.00 and points to a retest of recent highs near $110. Traders cited a WSJ report alleging that the EU is nearing a deal on an import embargo on Russian oil as price support. oil prices reached their highest levels since last Tuesday, with WTI […]

Jump for oil as Germany prepares for embargo

Jump for oil as Germany prepares for embargo Jump for oil as Germany prepares for embargo

With strong gains that restored prices above $ 105, oil completed today’s trading, after the publication that stated that Germany no longer opposes the imposition of a European embargo on Russian crude. In particular, Brent’s June contract expired on $ 107.59 the barrel with rally 2.16% the $ 2.27while at the low of the day […]

WSJ: Germany agrees to impose embargo on Russian oil

WSJ: Germany agrees to impose embargo on Russian oil New York Times: EU to impose gradual embargo on Russian oil

Germany is now ready to cut off oil purchases from Russia, paving the way for a European embargo on Russian crude, the Wall Street Journal reported, citing Berlin officials. According to the report, Germany has been the main obstacle to imposing European sanctions on Russia’s energy sector. However, on Wednesday, Berlin’s representatives in the European […]