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Falling oil prices

2022-05-17T06:14:49.417Z

Tokyo, SANA- Oil prices fell today, as Hungary rejected European pressure to ban Russian oil imports as well



Tokyo-Sana

Oil prices fell today as Hungary rejected European pressure to ban Russian oil imports and investors took profits after a recent rally.

Reuters reported that Brent crude futures fell 22 cents, or 0.2 percent, to $114.02 a barrel, and West Texas Intermediate crude futures fell 35 cents, or 0.3 percent, to $113.85 a barrel.

The two crudes rose more than two percent yesterday, following a jump of four percent last Friday.

And the European Union foreign ministers failed yesterday to pressure Budapest to change its position on the proposal to impose an oil embargo on Russia under the pretext of the crisis in Ukraine, as passing this proposal requires the approval of all EU member states.

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Source: sena

All business articles on 2022-05-17

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