European Commission to propose floating Russian oil price cap
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The oil price cap hasn't worked so far and there has been some talk of lowering the price lately but now EU sources cited by Reuters say they're considering a floating price cap.
If anything, this would be bullish for oil prices but the market isn't worried about it. WTI is down $1.54 to $66.85. This article was written by Adam Button at www.forexlive.com.