Oil drops as EU considers $65-70 Russian price cap

Open account Download free app

Oil slumps in European trade today on reports that the European Union is considering setting a price cap on Russian oil in the $65-70 per barrel range. Such a decision would be in-line with yesterday's media reports saying that the price cap could be set at $60 per barrel or even as high as $70 per barrel. However, disagreements among EU member countries remain and the decision on price cap needs to be unanimous if the EU is to embrace it. Interestingly, $65-70 per barrel cap would not cap prices of Russian oil as Russian Urals benchmark is currently trading at a discount of over $20 per barrel compared to Brent benchmark. However, if implemented, it would cap the price of Russian oil in case of potential price increases.

WTI (OIL.WTI) dropped and tested a support zone in the $80 area, following media reports on a potential $65-70 price cap on Russian oil. Source: xStation5

19 January 2026, 6:45 PM

Daily summary: Its fear, but not panic yet. Trump has shaken the markets again.

19 January 2026, 3:31 PM

New front in the trade war: Greenland❄️Will Gold rise further❓

19 January 2026, 9:05 AM

Gold: escalating US–Europe tensions drive prices to new highs 💰

16 January 2026, 7:14 PM

Daily summary: Banks and tech drag indices up 🏭US industry stays strong

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

Oil drops as EU considers $65-70 Russian price cap

Join over 2 000 000 XTB Group Clients from around the world