Oil rises in price on news of the latest European sanctions, Brent exceeded $123 per barrel
14:52 31.05.2022 10654
Oil prices rise on Tuesday morning on the news that the leaders of the countries of the European Union have agreed on a partial ban on the import of Russian oil, Interfax reports.
The cost of July futures for Brent oil on the London ICE Futures exchange by 8:05 Moscow time on Tuesday was $123.32 per barrel, which is $1.65 (1.36%) higher than the closing price of the previous session. Trading in the July contract ends on Tuesday, while the more active August futures price rises by $1.80 (1.53%) to $119.40 per barrel. As a result of trading on Monday, the July contract rose by $2.23 to $119.43 per barrel.
The price of futures for WTI oil for July in electronic trading on the New York Mercantile Exchange (NYMEX) by this time amounted to $118.66 per barrel, which is $3.59 (3.12%) higher than the final value of the previous session. On Friday, the cost of these contracts increased by $0.98 (0.9%), to $115.07 per barrel; trading was not held on Monday due to a holiday in the US.
The heads of state and government of the EU countries agreed on an embargo on two-thirds of the oil supplied from the Russian Federation, said the head of the European Council, Charles Michel.
«There is agreement on a ban on the import of Russian oil into the EU. This will immediately affect more than two-thirds of imported Russian oil», he tweeted.
The decision to impose not a full, but a partial embargo is a compromise, since Hungary, which is heavily dependent on Russian energy, opposed the ban on supplies. Earlier, JPMorgan analysts wrote that a complete rejection of oil from the Russian Federation could increase the price of this fuel to $185 per barrel.
Gas price in Europe exceeded $3,300 per 1,000 cubic meters
The spot price of gas in Europe on Thursday evening continued its active growth. A jump in prices at the end of the European trading session is usually the result of the influence of the growth of quotations in the Asian market, Interfax reports.
The President of Turkmenistan discussed the prospects for regional cooperation with the President of the European Council
The President of Turkmenistan Serdar Berdimuhamedov, who is on a working visit to Uzbekistan to participate in the first Central Asia-European Union Summit, met with the President of the European Council António Costa on April 3, TDH reports.
The President of Turkmenistan and the President of the European Commission expressed confidence in the successful holding of the Central Asia-EU Summit
The President of Turkmenistan Serdar Berdimuhamedov, who is on a working visit to Uzbekistan to participate in the first Central Asia-European Union Summit, met with the President of the European Commission Ursula von der Leyen on April 3.
The President of Turkmenistan took part in the first Central Asia-EU Summit and the Samarkand International Climate Forum
The President of Turkmenistan Serdar Berdimuhamedov, who is on a working visit to Uzbekistan, took part in the first Central Asia-European Union Summit and the Samarkand International Climate Forum on April 4, TDH reports.
The price of Brent rose above $100 per barrel again
Oil prices are rising moderately on Friday morning after falling the day before, foreign media reported.