Oil rises in price on news of the latest European sanctions, Brent exceeded $123 per barrel
14:52 31.05.2022 10310
Oil prices rise on Tuesday morning on the news that the leaders of the countries of the European Union have agreed on a partial ban on the import of Russian oil, Interfax reports.
The cost of July futures for Brent oil on the London ICE Futures exchange by 8:05 Moscow time on Tuesday was $123.32 per barrel, which is $1.65 (1.36%) higher than the closing price of the previous session. Trading in the July contract ends on Tuesday, while the more active August futures price rises by $1.80 (1.53%) to $119.40 per barrel. As a result of trading on Monday, the July contract rose by $2.23 to $119.43 per barrel.
The price of futures for WTI oil for July in electronic trading on the New York Mercantile Exchange (NYMEX) by this time amounted to $118.66 per barrel, which is $3.59 (3.12%) higher than the final value of the previous session. On Friday, the cost of these contracts increased by $0.98 (0.9%), to $115.07 per barrel; trading was not held on Monday due to a holiday in the US.
The heads of state and government of the EU countries agreed on an embargo on two-thirds of the oil supplied from the Russian Federation, said the head of the European Council, Charles Michel.
«There is agreement on a ban on the import of Russian oil into the EU. This will immediately affect more than two-thirds of imported Russian oil», he tweeted.
The decision to impose not a full, but a partial embargo is a compromise, since Hungary, which is heavily dependent on Russian energy, opposed the ban on supplies. Earlier, JPMorgan analysts wrote that a complete rejection of oil from the Russian Federation could increase the price of this fuel to $185 per barrel.
Liquefied gas and jet fuel were sold abroad at the auctions, and polypropylene and base oil were sold to the domestic market
27 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan last week.
The President of Turkmenistan and the Vice President of the UAE noted the active dynamics of cooperation in the energy, oil and gas and other spheres
The development of bilateral cooperation was discussed at a meeting on February 21 between the President of Turkmenistan Serdar Berdimuhamedov and the Vice President, Deputy Prime Minister, Minister of the Presidential Administration of the United Arab Emirates Sheikh Mansour bin Zayed Al Nahyan, who arrived in our country on a visit, TDH reports.
The work of the Interdepartmental Commission on the Caspian Sea was discussed at the Ministry of Foreign Affairs of Turkmenistan
The 63rd meeting of the Interdepartmental Commission of Turkmenistan on the Caspian Sea was held at the Ministry of Foreign Affairs on February 23. The meeting was attended by the relevant Vice-Chairmen of the Cabinet of Ministers of the country, the Director of the Caspian Sea Institute, heads of a number of ministries and specialized departments.
Products of oil refineries were sold at the auction
Last week, 35 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan.
Turkmenistan started exporting gasoline A-98 of EURO-5 and EURO-6 standards
Turkmenistan has started exporting A-98 gasoline of EURO-5 and EURO-6 standards, the first batches were sold to entrepreneurs from the United Arab Emirates and Afghanistan.