11/25/2022, 6:41 PM (Source: TeleTrader)
more TeleTrader news

EU postpones Russian crude price cap talks - report

Intra-European Union talks on setting a price ceiling on Russian crude oil have supposedly been postponed on Friday and will not resume over the weekend, the Wall Street Journal reported.

On November 23 and 24, the EU member states failed to reach an agreement that would outline the details of the price ceiling on the Russian commodity before December 5, the date which will put into effect new measures decided by the United States and its allies. Meanwhile, some media speculated that the price cap might be higher than the current price of Russian crude, which is presently selling at $60 per barrel.

For settlements in January, West Texas Intermediate (WTI) fell by 1.77% to sell for $76.72 per barrel at 12:31 pm ET. At the same time, Brent for the same month's deliveries dipped by 1.48% going to $84.08 per barrel.

Baha Breaking News (BBN) / AB