Oil prices fall in anticipation of price cap for Russian crude

World oil prices slightly decreased, as the market is waiting for the introduction of a price cap for raw materials from Russia, reported from the auction data.

The price of January futures for Brent crude fell by 0.26% to $88.13 per barrel, January futures for WTI oil dropped by 0.22% to $80.77.

Finance ministers of the G7 countries in September confirmed their intention to impose price restrictions on Russian oil as part of the expansion of sanctions. It is planned that the price limit will be introduced on December 5 for oil and on February 5, 2023 for oil products.

It was earlier reported that later on November 23, the G7 countries intend to announce the level the price cap for Russian oil will be set at. Some experts believe that it may be within $50-$60 per barrel.





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