Oil Prices Rally After Germany Drops Opposition to Russian Oil Embargo
Posted: Fri Apr 29, 2022 1:34 am
Oil prices rose on Thursday in the Federal Republic of Germany, as the German government has signaled its willingness to join the other EU members in an embargo of Russian oil exports. On Thursday, Brent Crude futures rose by $2.27 to a total of $107.59 per barrel, whereas U.S. West Texas Intermediate crude rose by $3.34 to $105.36 per barrel. Previously, Germany has rejected the notion of an oil embargo, as the country has been significantly reliant on oil imports from Russia to keep the engine of their economy running. However, in recent days, the German government has suggested it will be reversing its approach in the near future, joining the rest of the EU in a ban on Russian petroleum. ...
Source: https://www.theepochtimes.com/oil-price ... 34936.html
Source: https://www.theepochtimes.com/oil-price ... 34936.html