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G7 Price Cap Chatter Pushes Oil Futures Lower

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Crude futures sold off in Europe and the US on Wednesday as reports circulated that the EU and other G7 countries could agree on a relatively high price cap for Russian oil in a bid to keep Urals exports flowing after an EU ban on Russian crude imports takes effect in early December.

Topics:
Oil Futures and Derivatives, Oil Prices, Oil Inventories, Sanctions, Oil Supply, Oil Demand, Crude Oil, Oil Products
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