Oil rises in price on news of the latest European sanctions, Brent exceeded $123 per barrel
14:52 31.05.2022 9628
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.
In the future, we will make every effort for long-term cooperation with Turkmenistan in the gas sector, - head of CNPC
The commissioning of a new facility in the Bagtyyarlyk contract area, the opening of which was attended by the President of Turkmenistan, is an unforgettable event for both Chinese and Turkmen specialists. This was stated by the President of the CNPC Board of Management Hou Qijun, speaking to the participants of the celebration on the occasion of the commissioning of a new gas gathering station in the Farap etrap of the Lebap velayat.
Turkmenistan delegation takes part in UN Climate Change Conference COP29 in Baku
Turkmenistan delegation takes part in the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), which is being held in Baku from November 11 to 22, the Ministry of Foreign Affairs of Turkmenistan reports.
The President of Turkmenistan took part in the opening of a new gas gathering station in Lebap region
As part of a festive trip last Saturday to the Lebap region, President of Turkmenistan Serdar Berdimuhamedov took part in the solemn ceremony of commissioning a new gas gathering station.
Investments in «clean» energy and infrastructure for it in the world in 2024 will reach two trillion dollars – UN
Investments in «clean» energy and infrastructure for it in the world in 2024 will reach two trillion dollars, which is almost 2 times more than investments in fossil fuels. This was stated by the Executive Secretary of the UN Framework Convention on Climate Change Simon Steele at the Conference of the Parties (COP-29), which is taking place in Baku.
IUOG named after Ya. Kakayev and Petronas Carigali (Turkmenistan) signed a Memorandum of Understanding
The International University of Oil and Gas named after Yagshygeldi Kakayev and Petronas Carigali (Turkmenistan) Sdn Bhd signed a Memorandum of Understanding, the News Portal of the State Television and Radio Broadcasting Company of Turkmenistan reports.