Although the ban on Russian oil has gained support in the US at the domestic level, the European Union (EU) has not yet expressed its approval. However, these discussions caused WTI futures prices to soar on the day, placing the measurement for April at US$125.4 per barrel, which represents a rise of 9.02%.
The President of the European Commission (EC), Ursula von der Leyenwho is in Berlin, reiterated his wish for Europe to stop depending on Russia, diversify its energy sources and speed up its investment in renewable energies.
However, the European leader declined to comment on any talks with Washington about Russian oil.
The EU depends on Russia for its energy supply, as it imports 41% of the natural gas and 27% of the oil it consumes from that country, according to Eurostat data.
Unlike the European Union, the US has a huge capacity to produce its own gas and oil thanks to the production of unconventional hydrocarbons and only imports 8% of crude oil from Russia, according to data from the Energy Information Administration ( EIA).
A ban on Russian crude imports would deprive the Kremlin of an important source of revenue, but could hurt the global economy by causing energy prices to spike and the consequences of high inflation around the world.
Prices have reached high levels and closed on Friday at 115.70 dollars for the barrel of the WTI variety and 118.10 dollars for the Brent type.
This has led to a price increase in the sale of gasoline in the United States, which reached 4.10 dollars per gallon (1.10 dollars per liter) and caused Democratic and Republican legislators to pressure in recent days to Joe Biden for Washington to stop buying oil and crude oil products from Russia on the grounds that the revenue from these imports is used by the Kremlin to finance the war in Ukraine.
In the middle, the postponement of a nuclear agreement with Iran until the middle of the year appears as a distorting element for the oil market because it was speculated that a return of Tehran to crude oil exports could boost supply by 2 million barrels per day. and moderate price escalation.
Source: Ambito
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