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Daily (24.03.2022): Oil prices gained over 5% on Wednesday, on prospects of more sanctions against Russian oil and a drop in US commercial crude reserves
Crude oil prices increased sharply on Wednesday, amid anticipations of additional sanctions against Russia ahead of several key international summits. Moreover, US commercial crude stocks dropped by a larger-than-expected amount, lending additional support. Hence, Brent oil surged by 5.3% to $121.60 a barrel and WTI crude rose by 5.2% to $114.93 a barrel.
read more... 24/03/2022
Germany's Scholz reiterates opposition to immediate EU sanctions on Russian energy imports
German Chancellor Olaf Scholz reiterated March 23 his opposition to any immediate curbs on EU imports of Russian fossil fuels, warning that any such moves would plunge the region into an economic recession.
read more... 24/03/2022
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Ireland, Lithuania push EU for Russian oil sanctions ahead of Biden meeting
Ireland and Lithuania called for the EU to impose sanctions on Russia's oil trade at a meeting in Brussels on March 21 ahead of talks with US President Joe Biden later in the week.
read more... 22/03/2022
Daily (21.03.2022): European carbon prices snapped eight straight sessions of gains on Friday amid profit-taking
Crude oil prices increased on Friday amid expectations that Russian oil production will decline sharply in the coming weeks following Western sanctions on technology transfers and financing options for Russian oil companies. Hence, Brent crude settled 1.2% higher at $107.93 a barrel. U.S. WTI crude rose by 1.7% to end at $104.70 a barrel.
read more... 21/03/2022
EU leaders seek escape route from Russian fossil fuels, weigh energy investment plan
European Union leaders will tackle ways to wean themselves off Russian fossil fuels on Thursday (10 March) and debate how quickly to ditch their key supplier, with countries split over whether to sanction oil and gas imports as Moscow wages war in Ukraine.
read more... 11/03/2022