Fall in crude oil futures, pay attention to EU’s move over Russia’s oil embargo | Reuters

Crude oil futures on Asian time fell. Attention is being paid to the regional talks on the embargo on Russian crude oil proposed by the European Commission of the European Union (EU). The photo shows a crude oil sample being collected in an oil field in Irkutsk Oblast, Russia. Taken on March 10, 2019. (2022 Archyde.com / Vasily Fedosenko)

[Singapore 9th Archyde.com]–Asian time crude oil futures fell. Attention is being paid to the regional talks on the embargo on Russian crude oil proposed by the European Commission of the European Union (EU).

As of 0002GMT (9:02 am Japan time), North Sea Brent futures are down $ 0.67 (0.6%) to $ 111.72 a barrel. US WTI futures are down 0.75 (0.7%) to $ 109.02.

Both Brent and WTI rose last week due to concerns over tight supply. Unanimous consent of member states is required to implement the gradual import ban on Russian crude oil proposed by the European Commission as part of sanctions once morest Russia.

Bulgaria’s Deputy Prime Minister Basilev said on the 8th that he would vote once morest the country unless it was designated as an exemption from the import ban.

Sources also found that the European Commission has proposed a change to the embargo to give Hungary, Slovakia and the Czech Republic time to respond.