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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Oil prices fall after expectations of substantive negotiations between Russia and Ukraine

    Rocky
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    • Post n°1

    Oil prices fall after expectations of substantive negotiations between Russia and Ukraine Empty Oil prices fall after expectations of substantive negotiations between Russia and Ukraine

    Post by Rocky Mon 14 Mar 2022, 5:36 am

     Oil prices fall after expectations of substantive negotiations between Russia and Ukraine

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    Economy News _ Baghdad
    Oil prices continued to drop last week by nearly $4 a barrel, on Monday, after a US official said Russia was showing signs it might be ready for substantive negotiations on Ukraine.
    Brent crude futures were last down $2.42, or 2.15 percent, at $110.25 a barrel at 04:15 GMT on Monday.
    US West Texas Intermediate crude futures fell $2.68, or 2.45 percent, to $106.65 a barrel.
    Both decades since Russia invaded Ukraine on February 24, they are up nearly 40% in the year so far.
    US Deputy Secretary of State Wendy Sherman said Sunday that Russia is showing signs that it may be willing to conduct substantive negotiations on Ukraine, even as Moscow currently intends to "destroy" its neighbor. The Russian invasion, which Moscow calls a "special operation", has disrupted energy markets worldwide.
    On Sunday, the RIA news agency quoted Kremlin spokesman Dmitry Peskov as saying that talks between Russia and Ukraine are not underway now but will continue on Monday.
    Brent lost 4.8% last week, and US West Texas Intermediate crude fell 5.7%, and both recorded their largest weekly decline since November, and this came after both contracts reached their highest levels since 2008 earlier in the week due to concerns about supplies after considering The United States and its European allies in banning Russian oil imports.
    While the US later announced a ban on Russian oil imports, and Britain said it would phase out them by the end of the year, the downward pressure on prices was prompted by statements from the UAE ambassador that the country supports production increases and will encourage OPEC to consider increasing production. Produce.
    OPEC+, or the Organization of the Petroleum Exporting Countries (OPEC), Russia and their allies, are struggling to meet current production quotas due to low investment and a lack of spare capacity to further boost production.
    Russia is the world's largest exporter of crude and oil products combined, shipping about 7 million barrels per day or 7% of global supplies.
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