The price of oil went up – Bloomberg

West Texas Intermediate oil rose to $73. per barrel

On December 5, 2022, EU oil sanctions against Russia entered into force /

After several days of falling, oil prices went up. WTI for January delivery rose 1.3% to $72.93. per barrel on the New York Mercantile Exchange in London.

This is reported by Bloomberg, on the European exchange ICE Futures, the price of Brent with calculations for February increased by 1.1% to 78.03 dollars. per barrel

West Texas Intermediate oil rose to $73. per barrel after falling more than 11% over the previous four sessions as a number of US banks sounded the alarm over a possible recession.

The war in Ukraine and oil sanctions against the Russian Federation:

On December 3, the Council of the European Union decided to set the ceiling price for oil exported from Russia at USD 60 per barrel.

On December 5, 2022, EU oil sanctions against Russia entered into force.

The price ceiling means that from December 5, the 27 EU countries, the UK, the US, Canada, Japan and Australia will provide services related to Russian tanker oil only if it is purchased at or below a set ceiling price. From February 5, 2023, the purchase of Russian oil products will also be prohibited.

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