EU unsuccessful to ban Russian oil exports causes oil prices...| MENAFN.COM

Thursday, 18 August 2022 04:17 GMT

EU unsuccessful to ban Russian oil exports causes oil prices to drop


(MENAFN) Oil prices dropped on Tuesday on supply doubts as EU nations were until now unsuccessful to settle on banning Russian oil exports in the face of disagreement from Hungary.

International main Brent crude was exchanging at USD114.25 a barrel at 06:19 GMT for a 0.47 percent decline after ending the latest session at USD114.79 per barrel.

American main West Texas Intermediate (WTI) stood at USD111.78 for each barrel at the same period for a 0.03 percent decline after the previous session ended at USD111.82 per barrel.

Chief EU diplomats gathered in Brussels to talk over the most recent changes on the Russia-Ukraine conflict and to display the union’s backing for Western Balkan nations.

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