Oil (Petroleum) and Gasoline – Page 57

EU Embargo of Russian Oil and G7’s Price Cap Take Effect

An immediate impact on oil supplies in Europe was not expected, partly because the embargo has been in the works for months.

By Stanley Reed

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Oil Prices Rise as the West Imposes a Cap on Russian Crude

Energy traders pushed crude prices higher on Monday following Europe’s embargo of seaborne Russian crude and a price cap by Group of 7 nations went into effect.

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Amid Churning Oil Market, OPEC and Russia Leave Production Unchanged

The group, OPEC Plus, reaffirmed an output cut in October as “the right course of action” but outlined no further changes before an E.U. embargo of Russian oil begins on Monday.

By Stanley Reed

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Ukraine’s Allies Agree on Russian Oil Price Cap

The plan to impose a top price of $60 a barrel on Russian crude will most likely make a small dent in the Kremlin’s revenue, but the White House hopes it will help avert an oil shock.

By Matina Stevis-Gridneff Jim Tankersley and Alan Rappeport

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