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

Business Insider LogoBusiness Insider2 mo ago

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

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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Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

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

News Timezone: GMT -5:00

Ranking: #526 (out of 2845 stories this day)

News Source URL: markets.businessinsider.com

Language: English

Article Length: 267 words

Reading Time: 2 minutes read

Sentences: 32 lines

Sentence Length: 9 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Insider

News ID: 1894116

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Official Website: businessinsider.com

Update Frequency: 56 posts per day

Year Established: 2007

Headquarters: United States

News Last Updated: 10 hours ago

Coverage Areas: United States

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