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Dec 31, 2022, 5:14 PM

U.S. Crude Turns Positive, Brent Pares Losses On OPEC+ Cut Rumors

Price action was volatile. U.S. West Texas Intermediate (WTI) crude settled up 96 cents, or 1.3%, at $77.24, after earlier touching its lowest since December 2021 at $73.60.

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  Reuters | Dec 31, 2022

  Wall St Falls As U.S. Crude Oil Shakes Off Losses

  While a surge in COVID cases and clashes between police and protesters across several major Chinese cities over the weekend helped push U.S. Treasury yields lower, that move had also reversed course in afternoon trading.

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  Reuters | Dec 31, 2022

  India Purchased 40% Of Seaborne Russian Urals Oil In November: Report

  Russian Urals oil shipments to India accounted for about 40% of the total sea exports of Urals in November, not including the transit of oil from Kazakhstan, which is sold as KEBCO, Reuters calculations showed.

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  Reuters | Dec 31, 2022

  Western Governments Struggle To Agree On Russian Oil Price Cap

  The plan is meant to punish Russia while at the same time keeping its vast petroleum exports flowing to energy-starved global markets to tamp down inflation.

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  Reuters | Dec 31, 2022

  EU Inches Towards Deal On Russian Oil Price Cap This Week

  The deadline for a deal is Dec. 5 because that is when the EU's own full embargo on purchases of Russian seaborne oil, agreed at the end of May, kicks in.

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  Reuters | Dec 31, 2022

  Oil Up On China COVID Hopes, But OPEC+ Output Concerns Offset Gains

  Oil rose on Tuesday on expectations for a loosening of China's strict COVID-19 controls, but concerns that OPEC+ would keep its output unchanged at its upcoming meeting limited gains.

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  Reuters | Dec 31, 2022

  South Korea's Yoon Ready To Offer 'Tailored' Benefits To Attract Tesla Gigafactory: Report

  Yoon held a video call with Tesla Chief Executive Elon Musk last week and Yoon's office cited Musk as saying South Korea is among the top candidate locations for a new Tesla factory.

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  Reuters | Dec 31, 2022

  Kosovo, Serbia Reach Deal To End Dangerous Dispute Over Car Plates -EU

  Kosovo and Serbia reached a deal on Wednesday to end a nearly two-year dispute over car licence plates in northern Kosovo, which the West had warned could trigger ethnic violence, the European Union's foreign policy chief said.

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  Reuters | Dec 31, 2022

  OPEC+ Switch To Virtual Meeting Signals Policy Roll-Over Ahead Of Russian Oil Price Cap: Report

  A virtual meeting puts the focus on the pending European Union deal over the price cap on Russian oil, as well as a Dec. 5 deadline imposed by the bloc for a full embargo on purchases of Moscow's seaborne crude.

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