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.

Will Australia’s foreign investment rule create an economic boost?

Published

21 hours ago

May 8, 2024

Nathan Langridge

Australian Treasurer Dr. Jim Chalmers announced an overall of foreign investment rules ahead of the budget.

Australia is set to announce a significant decline in its projected gross debt, signalling a more optimistic outlook for the country’s fiscal health.

The Airport Economist, Professor Tim Harcourt at UTS joins to discuss.

Money

Research key to investment success

Published

3 days ago

May 6, 2024

ticker NEWS

What is the importance of research in the investing and super landscape in Australia?

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Peter Green, Director of Research at Lonsec Research. #wyld money

Money

Why “stagflation” will be the greatest financial threat of 2024

Published

3 days ago

May 6, 2024

Nathan Langridge

With inflation soaring and economic growth tapering off, concerns about stagflation are on the rise

Stagflation, a situation characterised by high inflation coupled with stagnant economic growth, presents a unique challenge that many are ill-prepared to face.

Mark Wyld from MW Wealth joins to unpack what defines “stagflation”. #featured