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16 June | Oil

US opposes lower Russian oil price — Bloomberg

Brent
WTI Light Crude Oil
US opposes lower Russian oil price — Bloomberg

According to Bloomberg sources, the US government maintains its stance and refuses to lower the price cap on Russian oil sales. This position dampens the EU's hopes for reaching an agreement to reduce the cost of Russian energy supplies during the upcoming G7 summit in Canada.

The final decision rests with US President Donald Trump. Meanwhile, EU countries and the UK are pushing to lower the oil price ceiling from the current $60 to $45 per barrel, the news agency reports.

Amid growing global geopolitical tensions, WTI crude oil prices surged over 7% in the past 24 hours, settling around $74 per barrel. This marks the most significant single-day increase since March 2022.

Elizaveta Kuzmicheva MarketCheese

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