Oil prices rose in Asia on Friday after a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil, Reuters reports.<\/p>\n\n\n\n
Brent crude futures rose by 28 cents, or 0.33%, to trade at $85.62 a barrel at 0410 GMT.<\/p>\n\n\n\n
G7 and European Union diplomats have been discussing levels for a Russian price cap of between $65 and $70 a barrel, with the aim of limiting revenue to fund Moscow\u2019s military offensive in Ukraine without disrupting global oil markets.<\/p>\n\n\n\n
\u201cThe market considers (the price caps) too high which reduces the risk of Moscow retaliating,\u201d ANZ Research analysts said in a note to clients.<\/p>\n\n\n\n
Russian President Vladimir Putin has said Moscow will not supply oil and gas to any countries that join in imposing the price cap, which the Kremlin reiterated on Thursday.<\/p>\n\n\n\n
Trading is expected to remain cautious ahead of an agreement on the price cap, due to come into effect on 5 December when an EU ban on Russian crude kicks off, and ahead of the next meeting of the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, on 4 December.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil prices rose in Asia on Friday after a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil, Reuters reports. Brent crude futures rose by 28 cents, or 0.33%, to trade at $85.62 a barrel at 0410 GMT. G7 and European Union diplomats have been discussing levels […]<\/p>\n","protected":false},"author":8,"featured_media":20120,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[61],"tags":[5274,8348,7682,13263,7421,11337,5663,159,9505,1195,9643,462,5491,1152,10742,9833,5572,5340,5441,1761,8159,5081,3805,12103,10390,71,8383,5807,3457,5217,10329,13307,5180,7231,694,3954,36],"class_list":["post-27666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-asia","tag-ban","tag-brent","tag-cap","tag-chinese","tag-demand","tag-diplomats","tag-eu","tag-european","tag-european-union","tag-fund","tag-g7","tag-gas","tag-kremlin","tag-market","tag-meeting","tag-military","tag-moscow","tag-oil","tag-oil-prices","tag-opec","tag-petroleum","tag-president","tag-price","tag-prices","tag-putin","tag-revenue","tag-risk","tag-russia","tag-russian","tag-trade","tag-trading","tag-ukraine","tag-union","tag-vladimir-putin","tag-will","tag-world"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/27666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=27666"}],"version-history":[{"count":0,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/27666\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/20120"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=27666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=27666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=27666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}