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The EU is nearing agreement on a new $47/barrel price cap on Russian oil, part of its 18th sanctions package over the Ukraine war, Reuters reports. The proposed floating cap is 15% below the recent average. Formal approval may come Tuesday. Previous $60 cap proved ineffective. Oil prices rose slightly, while retail sentiment on USO remained extremely bearish on Stocktwits.
short by / 03:04 pm on 14 Jul
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