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Hungary holds out for total Russian oil ban exemption as EU leaders meet
Hungarian Prime Minister Viktor Orban said May 30 he wants a complete exemption from the European Union's plans to ban Russian oil imports as EU leaders gathered to discuss a new proposal to win the support of the landlocked member state.
read more... 31/05/2022
Daily (27.05.2022): Oil prices hit a two-month high on Thursday amid signs of tight supplies ahead summer
Crude oil prices soared to hit their highest levels in two months on Thursday after official US data showed the nation’s crude inventories eased for the second consecutive week, suggesting further tightness in the global market. The European Union’s disagreement with Hungary's plan to ban crude oil imports from Russia because of its invasion of Ukraine added further bullish pressure. Hence, Brent crude for July delivery surged by 3.0%, to settle at $117.40 per barrel. Meanwhile, US WTI crude increased by 3.4%, to close at $114.09 per barrel.
read more... 27/05/2022
EU may offer Hungary, Slovakia exemptions from Russian oil embargo
The European Commission may spare Hungary and Slovakia from an embargo on buying Russian oil, now under preparation, wary of the two countries' dependence on Russian crude, two EU officials said on Monday.
read more... 03/05/2022
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EU inches forward on Russian oil ban as Germany, Hungary soften opposition
The two main opponents to a ban on Russian oil imports, Germany and Hungary, have softened their opposition to the move. EURACTIV looks at the options on the table and the state of play.
read more... 28/04/2022
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Cost of gas storage refill will be evenly spread
Austria, the Netherlands and Hungary have flagged concerns about EU plans to ensure the bloc’s gas storage is at least 80% full by 1 November, warning they would bear a disproportionate amount of the cost.
read more... 07/04/2022