Free Trial
USDCAD TECHS

Key Support Remains Exposed

AUDUSD TECHS

Pullback Extends, But Still Looks Corrective in Nature

US TSYS

FED Remains in Play Post-NFP/ISM Data

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

EU Confident For 5 Dec Oil Cap Start

OIL

The EU expects to have its regulation completed in time for the G7/EU introduction of a price cap on Russian crude oil on 5 Dec, the European Commissioner for Energy Kadri Simson told Reuters.

  • "Our sanctions will cover crude for EU member states so we will not buy Russian crude oil starting from December 5 and we covered the possible oil price gap for international buyers with our eighth package of sanctions," EU energy commissioner Kadri Simson said.
  • “We have been able to negotiate within days. So the overall framework is in place", she added.
  • "The aim is of course to have finalised an agreement with the G7 before 5 Dec. I expect you’ll hear something within the next week”, an EU official said.
124 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

The EU expects to have its regulation completed in time for the G7/EU introduction of a price cap on Russian crude oil on 5 Dec, the European Commissioner for Energy Kadri Simson told Reuters.

  • "Our sanctions will cover crude for EU member states so we will not buy Russian crude oil starting from December 5 and we covered the possible oil price gap for international buyers with our eighth package of sanctions," EU energy commissioner Kadri Simson said.
  • “We have been able to negotiate within days. So the overall framework is in place", she added.
  • "The aim is of course to have finalised an agreement with the G7 before 5 Dec. I expect you’ll hear something within the next week”, an EU official said.