Oil prices sink as EU considers price cap on Russian oil
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Oil prices dropped as the European Union considered a higher than expected price cap on Russian crude. Increasing signs of a global slowdown also took a toll, amid mounting headwinds in the two largest economies, threatening energy demand. EU officials discussed setting the ceiling for Russian seaborne exports at $65 to $70 a barrel.
For more on this, we spoke to Jameel Ahmad, who is the chief investment strategist for MENA at Alpari.
#OilPrices #PriceCap #RussianOil
Oil prices sink as EU considers price cap on Russian oil