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. CFTC Crude Oil speculative net positions. The value of the indicator has decreased from 103.3K to 74.3K
Yesterday at 8:30 PM
United States. U.S. Baker Hughes Total Rig Count. The value of the indicator has increased from 549 to 554
Yesterday at 6:04 PM
United States. U.S. Baker Hughes Oil Rig Count. The value of the indicator has increased from 417 to 419
Yesterday at 6:04 PM
United States. CFTC Crude Oil speculative net positions. The value of the indicator has increased from 103K to 103.3K
20 November
United States. Crude Oil Inventories. The value of the indicator has decreased from 6.413M to -3.426M
19 November
Top news
European Union. Manufacturing PMI. The value of the indicator has decreased from 50 to 49.7
Yesterday at 9:02 AM
United States. Nonfarm Payrolls. The value of the indicator has increased from -4K to 119K
20 November
United States. Unemployment Rate. The value of the indicator has increased from 4.3% to 4.4%
20 November
United States. Trade Balance. The value of the indicator has increased from $-78.2B to $-59.6B
19 November
European Union. CPI (MoM). The value of the indicator remained at the same level of 0.2%
19 November
All news

Forecasts

AUDCAD buy
Period: 28.11.2025 Expectation: 540 pips
AUDCAD shows signs of recovery as Canadian dollar experiences pressure
Technical analysis TA Other FA Other Indicators Fundamental analysis
Yesterday at 09:24 AM 29
Lyra_Moonwell1
GBPUSD sell
Period: 05.12.2025 Expectation: 1500 pips
GBPUSD has room to drop further
Indicators Chart analysis Hot news
Yesterday at 08:13 AM 40
Tom_Kern
Brent sell
Period: 28.11.2025 Expectation: 120 pips
Defusing geopolitical tensions weighing on Brent prices
Indicators and reports Technical analysis FA Other Indicators Fundamental analysis
Yesterday at 07:59 AM 26
Emily_Foster
USDJPY sell
Period: 28.02.2026 Expectation: 200 pips
USDJPY selloff with 155.50 in view
FA Other Chart analysis
Yesterday at 04:02 AM 22
McCarthy_Raymond
ETHUSD sell
Period: 05.12.2025 Expectation: 30000 pips
Chances for ETHUSD rebound increase near $2,700
Indicators Chart analysis Hot news
20 November 2025 48
John_Bullard
Natural gas buy
Period: 27.11.2025 Expectation: 437 pips
Buying natural gas amid seasonal demand peak
Technical analysis TA Other FA Other Indicators Fundamental analysis
20 November 2025 45
Lyra_Moonwell1
Go to forecasts