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Crude oil futures fluctuated in a narrow range, Brent futures closed down 3.34%

 Last Update: 2023-01-04
 Source: Internet
 Author: User

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Oil prices fell
as the European Union considered setting a higher-than-expected ceiling on Russian crude prices.
London Brent January oil futures fell 7 cents, or 3.
34 percent, to close at $
85.
34 a barrel.

EU member states are still unable to agree on
the details of the mechanism for capping the price of Russian seaborne oil.
The Group of Seven (G7) earlier agreed to launch the mechanism
on December 5.

Representatives of EU member states discussed the above events
for the second day in a row.
Some members still insist that the $65 to $70 range proposed by European Commission officials is too low, while others say it is too high
.
The sources noted that at least 6 countries opposed the proposal
.
It is reported that EU member states may continue to meet on Friday to discuss the matter
.

EU diplomats, speaking on condition of anonymity, said high-level bilateral negotiations were taking place, including the Czech presidency, the United States, and Germany as G7 presidency
.

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