Worries over recession and oversupply continue to push global oil prices down, days after Western countries introduced new rules to ‘cap’ the price of Russian crude. The price of global-benchmark Brent crude oil remained around 77 Dollars a barrel as of Thursday morning. That’s the lowest price since January. The new cap on Russian oil — introduced by the European Union and G-7 nations — began Monday. But several major importers including India and China have signalled they’ll pay it little attention.
Officials in the US and UK say they’re speaking to counterparts in Turkey to resolve a traffic jam of oil tankers in that country’s waters. Turkey has demanded shippers provide new proof of insurance following the introduction of the cap — which, again, prohibits Western insurers from covering Russian crude at more than 60-Dollars a barrel. The US and UK say the Turkish check is unnecessary under the new rules.
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#Oil #Russia #pricecap
38 Comments
EU will corner itself to death kkkk
India president look at german politician with hate face, but this guy indian president put a BIG SMILE WHEN PUTIN COME TO SEE HIM. 😂
its a completely manipulated market to begin with… the truth of the matter is india and china are just exploting pukin's desperation, these actions are not surprising.
West seems to this colonial rule is still in place. You decide what should be the price that you want to buy, you don't consult the largest buyers China, India and Turkey and then force other country to follow you with threat of sanctions. You cannot be more dumber than you are showing. What you forget it more than India and China you are more dependant on Russia for oil, gas, uranium, fertilizers and food on Russia
India is buying Russian oil, refining it and selling it to Europe. So there is a lot of hypocrisy going around. ( The US simply buys the oil directly from Russia.)
You are wrong Mr "Indian correspondent". West has no high ground to pressure India. They don't want us to expose their hypocrisy.
India supports dis war of Communist aggression until china invades India such hypocrites
Why the news starts and only discuss about india ! Is the cAP is gifted to destabilize INDIAs growing economy
If demand much more then supply, price control by political acts just destructing market n supply chain that cost up the price at the end.
EU just need cheap oil that all.
It's Europe problem not world's problems
Price of fuel has been dropping in german for the last few weeks.
Indian government cares for Indians unlike European governments, which are subservient of America and care more for US hegemony and buys oil at 5 times from USA to harm their own citizens!
Eutopean media hides the fact that Russian economy is flourishing! We Indians, Americans, Chinese and even Gulf countries are buying the same Russian oil, refining it and earning great margins for our own people by selling it to Europe! USA played a brilliant game ti decouple Europe from Russia to sell its gasoil to Europe at up to 5 times the Russian gasoil price. We Indians are thankful to USA for that!
😍😜Actions of Leaders from EU + UK = is like WATCHING the movie DUMB AND DUMBER !!! They BOTH COMPETE, to prove who is the DUMBEST of them all !! (they fight with their CHEAPEST commodity supplier Russia, and then BUY from USA at 4 TIMES THE PRICE… u would have to be BRAIN DEAD to think this workable).
India pretending again that them pushing for more Russian oil has nothing to do with their military dependency on Kremlin…
Indians will find a alternative. It’s european problem not a world problem. The winter will pave a way for truce.
“Oil is now just $77/barrel, the lowest since January”
Good thing I just filled up yesterday at $3.96/gallon but in January it was $2.02/gallon.
Man, India always finds a way to be selfish disappointment of a democracy. I mean, come on, if ever there was a right and wrong side in a dispute it is Russia attacking Ukraine. There is no way to try to talk your way around it with pr.
Man-ipulation is what's up with the oil market.
The future wars are for resources in a way nothing we've seen yet. I think Russia is a bit desperate to pay its war machine and stay afloat a bit too much with those low prices and kind of deserves the prey is upon from China & India.
Impose sanctions on India due to them financing the war.
How funny the EU violates the WTO rules for a free and fair trade by giving price caps to the goods that don't belong to the EU. What a mental the EU leaders are!
From the very beginning, EU n US has been promoting " we want u to have problems with Russia's oil n gas "
If you don't have one , we will create for u
Turkie is doing the right thing.
Its the west against the rest now on…. when the price of oil was too low the West didnt bother to do anything to help the gas oil producers… the hypocrisy of the West will just isolate them in the new multipolar world…
Essentially saying that the world must follow EU+US's rules n orders
As a Westerner. I refuse to buy any product from India. India has increased oil imports helping terrorist Russia murder Ukrainian civilians. India should be sanctioned by the West for supporting terrorist Russia.
India is mentally weak, the western world needs to start treating it as such
It is clear India supports a terrorist dictatorship over a democracy. Sanction India.
It still bad news for Russia. Now China and India will buy below the already low cap.
Russia sells less oil for for less money while fighting a expensive war.
Ukraine needs to start destroying Russian oil production facilities.
Isn't it a joke that west wants ruzzian oil price to be capped but complains that Turkey is enforcing it? Isn't that what they should be asking Turkey to do? WTF!
Arguably Russia will be prepared to sell oil cheaper elsewhere to make up for the EU cap so that will distort the total market. Doubtless Russian oil derived products are finding their way onto world markets at full price….
Lol. Good luck with Russian insurance. From sanctions point of view as well as security.
It's ran by mafia. And Russia cannot even make own nails, let alone secondary it software, track and trace systems and all sorts of things that come with insurance.
Everything is made by west in the west.
Good luck with Lada insurance.
Tell me, what was the last "made in Russia" thing you bought? Not assembled, as in china but made?
As per words of Zelensky:" go buy Russian cars, great Russia cars. And go live in Tver vor Ufa"
if OPEC comes to agreement within they can eliminate lot of wrongs and make them right…. first is 'currency' reforms 'one currency' for entire world…. just stop all crude supply to entire world within weeks all of them are going to be on their knees. OPEC has made enough revenue over ages, they can afford to sit and eat, yet without fuel even the western biggies do not have that much out put or supply with them…
The price of ESPO is basically Blunting the price cap
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