Ideas Markets Events Research
Close
search
Ideas
Markets
Events
Research
Nothing found
Select a section for which the search will be carried out
24 January 2023 | Other

Implementation of price ceiling for Russian petrochemicals will restrain growth of European economy

Brent
WTI Light Crude Oil

Financial Times reports that the price ceiling for RF petrochemicals will cause more harm to the economy of Western countries than the price cap for oil implemented earlier. 

As per the publication, the EU countries need nearly 6.4 million barrels of diesel fuel per day. However, only 5 million barrels per day are produced directly in these countries. Almost 700,000 barrels of fuel fall on deliveries from the RF today.

According to estimates shown in the report, new restrictions will create difficulties during the shortage elimination. Demand for diesel fuel is limited on the market, unlike the oil. 

Also, the publication says that the high cost of diesel fuel will hinder the growth of the European economy in 2023.

Company MarketCheese

Recommended

United States. Crude Oil Inventories. The value of the indicator has decreased from -4.306M to -7.863M
Today at 2:30 PM
United States. Cushing Crude Oil Inventories. The value of the indicator has increased from -1.702M to -1.604M
Today at 2:30 PM
United States. API Weekly Crude Oil Stock. The value of the indicator has decreased from -2.188M to -9.1M
Yesterday at 8:44 PM
United States. CFTC Crude Oil speculative net positions. The value of the indicator has decreased from 178.8K to 169.9K
15 May
United States. U.S. Baker Hughes Total Rig Count. The value of the indicator has increased from 548 to 551
15 May
Top news
European Union. CPI (MoM). The value of the indicator remained at the same level of 1%
Today at 9:02 AM
European Union. Trade Balance. The value of the indicator has decreased from 11.1B to 7.8B
Yesterday at 9:02 AM
United States. Retail Sales (MoM). The value of the indicator has decreased from 1.6% to 0.5%
14 May
European Union. GDP (QoQ). The value of the indicator remained at the same level of 0.1%
13 May
United States. CPI (YoY). The value of the indicator has increased from 3.3% to 3.8%
12 May
All news

Forecasts

USDCAD buy
Period: 27.05.2026 Expectation: 785 pips
USDCAD shows signs of resuming uptrend
FA Other Technical analysis Indicators Chart analysis Fundamental analysis
Today at 11:29 AM 26
Lyra_Moonwell1
NVIDIA Corporation buy
Period: 27.05.2026 Expectation: 1000 pips
Go long on NVIDIA ahead of earnings report
Indicators and reports FA Other Hot news Chart analysis
Today at 10:59 AM 35
Sinclair_John
Natural gas buy
Period: 27.05.2026 Expectation: 140 pips
Updated weather forecast weighs on natural gas
Indicators and reports Technical analysis Hot news Indicators Fundamental analysis
Today at 08:24 AM 20
Emily_Foster
EURUSD sell
Period: 20.06.2026 Expectation: 1023 pips
EURUSD sell-off targets 1.11500
Indicators and reports FA Other Hot news Chart analysis
Today at 08:15 AM 14
Reed_Marcus
S&P 500 sell
Period: 30.06.2026 Expectation: 5500 pips
SPX sell-off targets 6,850
FA Other Chart analysis
Today at 04:54 AM 17
McCarthy_Raymond
Gold sell
Period: 30.06.2026 Expectation: 14000 pips
Selling gold down to $4,400
FA Other TA Other
Today at 04:54 AM 29
Bruce_Powers
Go to forecasts