World oil hits lowest level in two months, Europe cracks, sets Russian oil ceiling

The Government of the European Union There were still different opinions on Thursday (November 24, 2022) about the level of measures to set a ceiling on Russian oil prices. to limit Russia’s funding potential for a war in Ukraine without affecting the volume in the global energy market causing world oil prices The market closed in a narrow range. It reached its lowest level in about two months.

– West Texas Intermediate or Light Sweet Scratch Crude Oil contract for January delivery rose 2 cents to $77.96 a barrel.

– London North Sea Brent for January delivery fell 29 cents to $85.12 a barrel.

On Wednesday, November 23, 2022, EU member states failed to reach an agreement on a ceiling for Russian marine crude oil because members of the Seven Leading Industrialized Countries (G-7) proposed a ceiling of $65-70 per barrel , which some considered too high. But some say it is too low.

A spokesman for the Polish representative to the EU said the ceiling should refer to the cost of producing crude oil per barrel. Not referring to current market prices Poland supports measures to impose a ceiling on Russian oil. But the proposed level was far too high. in line with Lithuania’s opinion

#Russia oil ceiling

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