Oil Edges Lower As EU Looks Less Likely To Ban Russian Oil

Author : desertsafari
Publish Date : 2022-03-26 00:00:00


Oil Edges Lower As EU Looks Less Likely To Ban Russian Oil

Oil edged lower on Tuesday after it looked unlikely that European Union nations would agree to join the United States in a Russian oil embargo in retaliation for its invasion of Ukraine. EU foreign ministers were split on the ban as some countries, including Germany, say the bloc is too dependent on Russia's fossil fuels to withstand such a step. "It's pretty clear that the German economy will seize up so the EU is backing away from a Russian ban," said John Kilduff, partner at Again LLC in New York. Brent crude fell 14 cents, or 0.2%, to settle at $115.48 a barrel. U.S. West Texas Intermediate crude ended 36 cents, or 0.3%, lower at $111.76. On Monday, both contracts had settled up more than 7% on the potential EU ban. Adding to supply shortages, oil exports by Caspian Pipeline Consortium (CPC) may fall by around 1 million barrels per day (bpd) while it repairs two of three mooring points damaged by a storm in Russia's section of the Black Sea, RIA news agency quoted Russia's energy ministry as saying. French oil major TotalEnergies, which has come under criticism after it stopped short of joining rivals Shell and BP in planning to divest oil and gas assets in Russia, said on Tuesday it would to quit Russian oil supply contracts.

Oil edged lower on Tuesday after it looked unlikely that European Union nations would agree to join the United States in a Russian oil embargo in retaliation for its invasion of Ukraine. EU foreign ministers were split on the ban as some countries, including Germany, say the bloc is too dependent on Russia's fossil fuels to withstand such a step. "It's pretty clear that the German economy will seize up so the EU is backing away from a Russian ban," said John Kilduff, partner at Again LLC in New York. Brent crude fell 14 cents, or 0.2%, to settle at $115.48 a barrel. U.S. West Texas Intermediate crude ended 36 cents, or 0.3%, lower at $111.76. On Monday, both contracts had settled up more than 7% on the potential EU ban. Adding to supply shortages, oil exports by Caspian Pipeline Consortium (CPC) may fall by around 1 million barrels per day (bpd) while it repairs two of three mooring points damaged by a storm in Russia's section of the Black Sea, RIA news agency quoted Russia's energy ministry as saying. French oil major TotalEnergies, which has come under criticism after it stopped short of joining rivals Shell and BP in planning to divest oil and gas assets in Russia, said on Tuesday it would to quit Russian oil supply contracts.Oil edged lower on Tuesday after it looked unlikely that European Union nations would agree to join the United States in a Russian oil embargo in retaliation for its invasion of Ukraine. EU foreign ministers were split on the ban as some countries, including Germany, say the bloc is too dependent on Russia's fossil fuels to withstand such a step. "It's pretty clear that the German economy will seize up so the EU is backing away from a Russian ban," said John Kilduff, partner at Again LLC in New York. Brent crude fell 14 cents, or 0.2%, to settle at $115.48 a barrel. U.S. West Texas Intermediate crude ended 36 cents, or 0.3%, lower at $111.76. On Monday, both contracts had settled up more than 7% on the potential EU ban. Adding to supply shortages, oil exports by Caspian Pipeline Consortium (CPC) may fall by around 1 million barrels per day (bpd) while it repairs two of three mooring points damaged by a storm in Russia's section of the Black Sea, RIA news agency quoted Russia's energy ministry as saying. French oil major TotalEnergies, which has come under criticism after it stopped short of joining rivals Shell and BP in planning to divest oil and gas assets in Russia, said on Tuesday it would to quit Russian oil supply contracts.Oil edged lower on Tuesday after it looked unlikely that European Union nations would agree to join the United States in a Russian oil embargo in retaliation for its invasion of Ukraine. EU foreign ministers were split on the ban as some countries, including Germany, say the bloc is too dependent on Russia's fossil fuels to withstand such a step. "It's pretty clear that the German economy will seize up so the EU is backing away from a Russian ban," said John Kilduff, partner at Again LLC in New York. Brent crude fell 14 cents, or 0.2%, to settle at $115.48 a barrel. U.S. West Texas Intermediate crude ended 36 cents, or 0.3%, lower at $111.76. On Monday, both contracts had settled up more than 7% on the potential EU ban. Adding to supply shortages, oil exports by Caspian Pipeline Consortium (CPC) may fall by around 1 million barrels per day (bpd) while it repairs two of three mooring points damaged by a storm in Russia's section of the Black Sea, RIA news agency quoted Russia's energy ministry as saying. French oil major TotalEnergies, which has come under criticism after it stopped short of joining rivals Shell and BP in planning to divest oil and gas assets in Russia, said on Tuesday it would to quit Russian oil supply contracts.Oil edged lower on Tuesday after it looked unlikely that European Union nations would agree to join the United States in a Russian oil embargo in retaliation for its invasion of Ukraine. EU foreign ministers were split on the ban as some countries, including Germany, say the bloc is too dependent on Russia's fossil fuels to withstand such a step. "It's pretty clear that the German economy will seize up so the EU is backing away from a Russian ban," said John Kilduff, partner at Again LLC in New York. Brent crude fell 14 cents, or 0.2%, to settle at $115.48 a barrel. U.S. West Texas Intermediate crude ended 36 cents, or 0.3%, lower at $111.76. On Monday, both contracts had settled up more than 7% on the potential EU ban. Adding to supply shortages, oil exports by Caspian Pipeline Consortium (CPC) may fall by around 1 million barrels per day (bpd) while it repairs two of three mooring points damaged by a storm in Russia's section of the Black Sea, RIA news agency quoted Russia's energy ministry as saying. French oil major TotalEnergies, which has come under criticism after it stopped short of joining rivals Shell and BP in planning to divest oil and gas assets in Russia, said on Tuesday it would to quit Russian oil supply contracts.Oil edged lower on Tuesday after it looked unlikely that European Union nations would agree to join the United States in a Russian oil embargo in retaliation for its invasion of Ukraine. EU foreign ministers were split on the ban as some countries, including Germany, say the bloc is too dependent on Russia's fossil fuels to withstand such a step. "It's pretty clear that the German economy will seize up so the EU is backing away from a Russian ban," said John Kilduff, partner at Again LLC in New York. Brent crude fell 14 cents, or 0.2%, to settle at $115.48 a barrel. U.S. West Texas Intermediate crude ended 36 cents, or 0.3%, lower at $111.76. On Monday, both contracts had settled up more than 7% on the potential EU ban. Adding to supply shortages, oil exports by Caspian Pipeline Consortium (CPC) may fall by around 1 million barrels per day (bpd) while it repairs two of three mooring points damaged by a storm in Russia's section of the Black Sea, RIA news agency quoted Russia's energy ministry as saying. French oil major TotalEnergies, which has come under criticism after it stopped short of joining rivals Shell and BP in planning to divest oil and gas assets in Russia, said on Tuesday it would to quit Russian oil supply contracts.Oil edged lower on Tuesday after it looked unlikely that European Union nations would agree to join the United States in a Russian oil embargo in retaliation for its invasion of Ukraine. EU foreign ministers were split on the ban as some countries, including Germany, say the bloc is too dependent on Russia's fossil fuels to withstand such a step. "It's pretty clear that the German economy will seize up so the EU is backing away from a Russian ban," said John Kilduff, partner at Again LLC in New York. Brent crude fell 14 cents, or 0.2%, to settle at $115.48 a barrel. U.S. West Texas Intermediate crude ended 36 cents, or 0.3%, lower at $111.76. On Monday, both contracts had settled up more than 7% on the potential EU ban. Adding to supply shortages, oil exports by Caspian Pipeline Consortium (CPC) may fall by around 1 million barrels per day (bpd) while it repairs two of three mooring points damaged by a storm in Russia's section of the Black Sea, RIA news agency quoted Russia's energy ministry as saying. French oil major TotalEnergies, which has come under criticism after it stopped short of joining rivals Shell and BP in planning to divest oil and gas assets in Russia, said on Tuesday it would to quit Russian oil supply contracts.Oil edged lower on Tuesday after it looked unlikely that European Union nations would agree to join the United States in a Russian oil embargo in retaliation for its invasion of Ukraine. EU foreign ministers were split on the ban as some countries, including Germany, say the bloc is too dependent on Russia's fossil fuels to withstand such a step. "It's pretty clear that the German economy will seize up so the EU is backing away from a Russian ban," said John Kilduff, partner at Again LLC in New York. Brent crude fell 14 cents, or 0.2%, to settle at $115.48 a barrel. U.S. West Texas Intermediate crude ended 36 cents, or 0.3%, lower at $111.76. On Monday, both contracts had settled up more than 7% on the potential EU ban. Adding to supply shortages, oil exports by Caspian Pipeline Consortium (CPC) may fall by around 1 million barrels per day (bpd) while it repairs two of three mooring points damaged by a storm in Russia's section of the Black Sea, RIA news agency quoted Russia's energy ministry as saying. French oil major TotalEnergies, which has come under criticism after it stopped short of joining rivals Shell and BP in planning to divest oil and gas assets in Russia, said on Tuesday it would to quit Russian oil supply contracts.Oil edged lower on Tuesday after it looked unlikely that European Union nations would agree to join the United States in a Russian oil embargo in retaliation for its invasion of Ukraine. EU foreign ministers were split on the ban as some countries, including Germany, say the bloc is too dependent on Russia's fossil fuels to withstand such a step. "It's pretty clear that the German economy will seize up so the EU is backing away from a Russian ban," said John Kilduff, partner at Again LLC in New York. Brent crude fell 14 cents, or 0.2%, to settle at $115.48 a barrel. U.S. West Texas Intermediate crude ended 36 cents, or 0.3%, lower at $111.76. On Monday, both contracts had settled up more than 7% on the potential EU ban. Adding to supply shortages, oil exports by Caspian Pipeline Consortium (CPC) may fall by around 1 million barrels per day (bpd) while it repairs two of three mooring points damaged by a storm in Russia's section of the Black Sea, RIA news agency quoted Russia's energy ministry as saying. French oil major TotalEnergies, which has come under criticism after it stopped short of joining rivals Shell and BP in planning to divest oil and gas assets in Russia, said on Tuesday it would to quit Russian oil supply contracts.Oil edged lower on Tuesday after it looked unlikely that European Union nations would agree to join the United States in a Russian oil embargo in retaliation for its invasion of Ukraine. EU foreign ministers were split on the ban as some countries, including Germany, say the bloc is too dependent on Russia's fossil fuels to withstand such a step. "It's pretty clear that the German economy will seize up so the EU is backing a



Category :travel

"Jhoome Jo Makhan": Amul Celebrates Success Of SRKs Pathaan With A Creative Doodle

"Jhoome Jo Makhan": Amul Celebrates Success Of SRKs Pathaan With A Creative Doodle

- Shah Rukh Khan and Deepika Padukones recently released film Pathaan has become the first blockbuster of 2023. Take a look at how Amul celebrated its success.


It Seems Like BAI Is Happy To Put Me Out Of CWG, Asiad: Saina Nehwal

It Seems Like BAI Is Happy To Put Me Out Of CWG, Asiad: Saina Nehwal

- Saina Nehwal was not happy with the Badminton Association of Indias scheduling of trials for the


TikTok Chief Faces Hostile US Lawmakers Over China Ties

TikTok Chief Faces Hostile US Lawmakers Over China Ties

- The TikTok CEO suffered unusually intense grilling by both Republicans and Democrats who fear that Beijing could subvert


My Father Drinks: Boy Tells Nitish Kumar, Seeks Help For Education

My Father Drinks: Boy Tells Nitish Kumar, Seeks Help For Education

- My father sells dairy items for a living. But he could not care less about my education. Whatever he earns he squanders