Hungary delays EU sanction on Russian oil causing prices to ...| MENAFN.COM

Thursday, 30 June 2022 01:23 GMT

Hungary delays EU sanction on Russian oil causing prices to fall


(MENAFN) On Tuesday, Oil costs dropped with Hungary delaying the EU sanction on Russian oil imports as financiers earns from market instability.

International main Brent crude was exchanging at USD109.27 a barrel at 0702 GMT for a 1.36 percent decline after ending the last session at USD110.78 per barrel.

American main West Texas Intermediate (WTI) stood at USD108.89 a barrel at the same period for a 1.27 percent decrease after the last session ended at USD110.29 per barrel.

An EU sanction on Russian oil exports looks doubtful in the near future, with Hungary remaining its disagreement to the procedure, contributing to descending oil cost weight.

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