Post Tagged with: "Russian oil"

Source: Reuters

Oil prices fall more than $2 on Russian oil price cap talks

US News

LONDON – Oil prices fell by more than $2 a barrel on Wednesday as the Group of Seven (G7) nations looked at a price cap on Russian oil above where the crude grade is currently trading.



Source: Oil Price

The U.S. will not use secondary sanctions to enforce a Russian oil price cap

Oil Price

Secondary sanctions will not be imposed on financial institutions or insurers providing transportation services for Russian oil, a U.S. Treasury Department official said on Monday.


The G7 and its Western allies have been studying for weeks the …

Source: Reuters

The G7’s price cap on Russian oil begins to take shape


WASHINGTON – The Group of Seven countries is working to cap the price of Russian oil in an attempt to limit Moscow’s ability to fund its invasion of Ukraine, a plan analysts say could work in the long term …

EIA expects Russian oil output to take hit in 2023 from EU sanctions

EIA expects Russian oil output to take hit in 2023 from EU sanctions

World Oil

(Bloomberg) — The European Union’s ban on seaborne imports of Russian petroleum in response to Russia’s invasion of Ukraine will lead to an 18% drop in the country’s fuel output by the end of next year, the Energy …

Source: Reuters

U.S. to suggest tariffs on Russian oil as alternative to embargoes


U.S. Treasury officials said on Tuesday they plan to propose at this week’s G7 finance meeting that European countries impose tariffs on Russian oil, as a faster alternative to an outright oil embargo.

European Union officials are considering a …

Source: Reuters

Oil jumps 4% as EU proposes ban on Russian oil


LONDON: Oil prices jumped on Wednesday as the European Union, the world’s largest trading bloc, spelled out plans to phase out imports of Russian oil, offsetting demand worries in top importer China.

Brent crude futures rose $3.99, or 3.8%, …

Source: Reuters

EU set to ban Russian oil, ministers hold crisis talks on gas


BRUSSELS -The European Union was preparing a ban on Russian oil, with possible exemptions for wary countries, as EU energy ministers on Monday held crisis talks on Moscow’s demand that foreign buyers pay for gas in roubles or lose …

Source: Reuters

Russian oil embargo could be part of next EU sanctions package, ministers say


LUXEMBOURG – The European Union’s executive is drafting proposals for an EU oil embargo on Russia, the foreign ministers of Ireland, Lithuania and the Netherlands said on Monday, although there is still no agreement to ban Russian crude.

“They …

Source: CNBC

Asia will become the ‘default market’ for Russian oil, Dan Yergin says


Asia will become the default market for Russian oil as the country tries to find buyers for its energy exports, said Dan Yergin, vice chairman of S&P Global.

Major oil importers in Asia like China and India have been …

Source: Reuters

EXCLUSIVE OPEC officials tell EU of unease about proposed ban on Russian oil, sources say


LONDON – OPEC officials believe a possible European Union ban on oil from its partner Russia would hurt consumers and the group has conveyed its concerns to Brussels, OPEC sources said.

Major OPEC members, such as Saudi Arabia and

Source: Finance Yahoo

TotalEnergies to stop buying Russian oil, funding arctic LNG

Yahoo Finance

(Bloomberg) — TotalEnergies SE said it will stop buying Russian crude and diesel by the end of the year, becoming the latest energy giant to shun the country’s oil in protest against the invasion of Ukraine.

The announcement …

Source: World Oil

Biden says U.S. will ban Russian oil, fuels to pressure Putin on war

World Oil

(Bloomberg) — President Joe Biden said the U.S. will ban imports of Russian fossil fuels including oil, a major escalation of Western efforts to hobble Russia’s economy that will further strain global crude markets.

“We’re banning all imports …

Source: Reuters

Urals u-turn as Europe shuns expensive Russian oil


MOSCOW/LONDON  – The rapidly rising price of Russia’s flagship Urals blend oil has forced European refineries to cut purchases from Moscow and look for crude supplies elsewhere, traders said on Friday.

Urals, a blend of heavy sour oil from …

Russian Oil Sales to U.S. ‘On Steroids’, May Triple Soon

Russian Oil Sales to U.S. ‘On Steroids’, May Triple Soon

From Bloomberg

Petroleum exports from Russia to the U.S. are growing rapidly as the supplier takes advantage of lost deliveries from sanctions-hit Venezuela and supply cuts by OPEC members.

In the first half of May, 13 ships from Russia delivered …

May 22, 2019 - 8:37 am Closing Bell Story‎, Crude Oil News, Energy News