EU agreed to cap Russian oil

European Union governments will implement a $60 a barrel price cap on Russian seaborne oil with an adjustment mechanism to keep the cap at 5% below market prices after Poland formally agreed to this idea. Earlier Poland and the Baltic countries opted for a more severe limit, even$30 per barrel, while Greece, Cyprus and Malta, whose domestic shipping industries play a key role in the international transport of Russian oil, wanted $70 cap, diplomats with knowledge of the situation told Euronews. The rest of the G7 (and Australia) are expected to approve this mechanism shortly. It's set to go into effect on December 5, which is the day after the OPEC+ meeting. Therefore oil traders may expect elevated volatility after the weekend.

Price cap aims to further cripple the Kremlin's finances and ability to fund war on Ukraine. Since the beginning of the conflict on 24 February to 28 November, Russia recorded crude oil sales of €116 billion and €38 billion from oil products and chemicals, according to data from Center for Research on Energy and Clean (CREA), a Helsinki-based organization. The EU was the top buyer during this period. Source: Center for Research on Energy and Clean (CREA) via Euronews.

OIL.WTI saw relatively small reaction to today's EU decision and continues to trade around major support at $81.20 per barrel. Source: xStation5

20 October 2025, 6:07 PM

NATGAS gains 12% 🚨📈

20 October 2025, 3:55 PM

GOLD returns to ATH levels 📈

20 October 2025, 6:32 AM

Morning wrap (20.10.2025)

17 October 2025, 6:28 PM

VIX drops 10% amid Wall Street rebound attempt🗽

commodities

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days

EU agreed to cap Russian oil

Join over 1 700 000 XTB Group Clients from around the world