Crude oil futures end lower amid EU sanctions on Russia
European Union has reached an agreement on the 18th round of sanctions against Russia over its aggression in Ukraine
Crude oil futures ended lower on Friday after European Union (EU) reached an agreement on the 18th round of sanctions against Russia over its aggression in Ukraine. The package proposes a ban on transactions with Nord stream gas pipelines, and the EU wants lower the G7 price cap on Russia's crude oil to $47.60 per barrel from $60. These sanctions when implemented could deal a blow to Russia's oil and energy industries.
Benchmark crude oil futures for August declined $0.24 or about 0.36% at $67.30 a barrel on the New York Mercantile Exchange. Brent crude for September decreased $0.24 or about 0.35% at $69.28 a barrel on London's Intercontinental Exchange.
