The EU is considering a price cap on Russian diesel fuel at $100 per barrel
The European Union plans to implement a $100-per-barrel limit on Russian diesel fuel. Restricting fuel imports because of the ban could cause the worst consequences. A set price level could help overcome them.
The EU will ban almost all imports of refined Russian products on February 5. A decision to limit fuel prices is expected to be made then as well.
Diesel fuel is trading at a higher price than oil. Reliable sources report that this restriction applies specifically to products such as diesel fuel. In addition, it is known that cheaper fuels such as fuel oil will have a lower cap of $45. Participating states have not yet entered into negotiations on the issue, so the possibility of changing the numbers remains.
A more formal discussion of price levels among EU diplomats will begin on Friday. Negotiations are expected to take the next few days. Some countries are also considering stronger restrictions and broader sanctions.
Demand for gold surged to an 11-year high last year. This is due to large-scale purchases on the back of high activity by retail investors and a slowdown of ETF outflows.
1 FebruaryThe White House expressed a negative assessment of the record profit of Exxon Mobile in 2022. The company earned $56 billion, and it’s a maximum for both itself and the whole oil industry of Western countries.
1 FebruaryThe US Interior Department’s Bureau of Land Management supports an accelerated plan of oil production. It includes 3 new wells across the Willow site in the Petroleum Reserve-Alaska, instead of having 5 wells predetermined earlier.
1 FebruaryOn February 2, the focus is on natural gas reserves in the United States. On February 3, data on oil rigs from Baker Hughes and speculative positions on oil and gas, gold, silver, aluminum and copper are on the agenda.
2 FebruaryJapan was buying aluminum at a surcharge. Shipments from January to March were at $85-86 per ton, which is 13-14% less than in the previous quarter. Resources report weak demand and strong reserves of aluminum.
1 February