Oil prices soar as the EU finalises new sanctions against Russia

Published

2 years ago

May 30, 2022

Oil prices are on the rise as investors await the European Union’s new set of sanctions against Moscow

Prices reached a two-month high as the EU considers banning Russian oil.

Brent crude futures increased by 46 cents to nearly $120 a barrel while U.S. West Texas Intermediate crude futures gained 60 cents just over $115 a barrel.

This comes as the EU is set to convene on Monday and Tuesday to finalise its sixth package of sanctions against Russia for its invasion of Ukraine.

The group met on Sunday, failing to agree on banning Russian oil but these upcoming talks may see changes to seaborne deliveries.

If the oil ban goes ahead more supply issues are expected for gasoline, diesel and jet fuel.

Related Topics:crude oil moscow oil russia Sanctions against Russia

Up Next

Tesla restores operations at Shanghai plant following crippling lockdowns

Don't Miss

UK airport labelled a ‘zoo’ as major delays continue

Natasha Schapova

Natasha is an Associate Producer at ticker NEWS with a Bachelor of arts from Monash University. She has previously worked at Sky News Australia and Monash University as an Online Content Producer.

Why the meme-stock frenzy is unlikely to repeat

Published

6 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

6 days ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

7 days ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending