Oil drops 4% as the EU considers capping Russian oil prices between $65-$70, with the bloc split on the potential move

Quick Summary:

Some EU countries consider the proposed price cap on Russian oil as watered-down, Bloomberg reported.

Meanwhile, "Cyprus, Greece and Malta find it too low, because of the risk of more deflagging of their vessels, which might mean the G7 has found a good middle-ground," Reuters quoted a diplomat as saying.

Brent crude, the international benchmark, lost 4% at $84.86.

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Category: Economy

Markets: United StatesCyprusEstoniaGreeceLithuaniaMaltaPolandUkraine

Topics: EU G-7 Russia Energy Markets Oil MI Exclusive European Union Commodities

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Article Type: News Report

Published On: 2022-11-23 @ 19:55:42 (2 months ago)

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News ID: 1894116

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