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Oil at $100 a barrel? U.S. role in Iran-Israel fight fuels market jitters

CNBC: Energy

entered the war between Iran and Israel, said industry watchers, predicting oil at $100 a barrel if the Strait of Hormuz is closed. entered the war between Iran and Israel, said industry watchers, predicting oil at $100 a barrel if the Strait of Hormuz is closed. per barrel, while global benchmark Brent was up nearly 2% at $78.53

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OPEC+ members agree to larger-than-expected oil production hike in August

CNBC: Energy

million barrels per day of voluntary production cuts, which are separate from the wider OPEC+ strategy. Anadolu | Anadolu | Getty Images Eight oil-producing nations of the OPEC+ alliance agreed on Saturday to increase their collective crude production by 548,000 barrels per day, as they continue to unwind a set of voluntary supply cuts.

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Russia Slashes Energy Revenue Forecast by 24% as Oil Prices Dip

OilPrice

Russia expects 24% lower revenues from oil and gas this year compared to earlier estimates, following the oil price crash that began in early April and sank the price of its flagship Urals crude close to the $50 per barrel mark. trillion Russian rubles) for 2025, according to the finance ministrys latest update. billion (8.32

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Will Europe’s $50 Russian Oil Price Cap Plans Thwart the ‘Shadow Fleet’?

OilPrice

The European Union will propose to G7 finance ministers to lower the price cap on Russian crude from the current $60 per barrel to $50, European Economic Commissioner Valdis Dombrovskis said.

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Russia Hints at Changing Oil Price Level in Its Budget Rule

OilPrice

Russia could consider adjusting the oil price level in its so-called budget rule amid falling oil prices, Finance Minister Anton Siluanov said on Wednesday. Under the budget rule, Russia has a baseline price of $60 per barrel of oil, above which it funnels excess revenue to its National Wealth Fund, a rainy-day reserves fund.

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Russia-India Oil Shipping Rates Drop as Urals Dips Below Price Cap

OilPrice

The price cap mechanism set by the G7 and the EU says that Russian crude shipments to third countries can use Western insurance and financing if cargoes are sold at or below the $60-a-barrel ceiling. The price of Urals dipped below $60 per barrel earlier this month as international benchmarks crashed

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U.S. Resists EU Push to Lower Russian Oil Price Cap

OilPrice

While the EU is lobbying to lower the G7s $60-per-barrel price cap on Russian crude to $50 (with Ukraine yelling from the back row for a $30 tag), U.S. A European official attending the G7 finance powwow in Banff, Canada, told Reuters that the U.S. Turns out Washington isnt buying what Brussels is sellingat least not yet.

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