A Russian state flag flies on the top of a diesel plant in the Yarakta Oil Field, owned by Irkutsk Oil Company (INK), in Irkutsk Region, Russia March 10, 2019. REUTERS/Vasily Fedosenko
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- European foreign ministers disagree on oil sanctions
- U.S. dollar gains ground after Powell comments
- U.S. crude inventories expected to be unchanged
March 22 (Reuters) – Oil was trading mixed on Tuesday as the dollar strengthened and it looked unlikely that the European Union would pursue an embargo on Russian oil, a day after prices jumped 7% and also rose earlier in the session.
EU foreign ministers are split on whether to join the United States in banning Russian oil. Some countries, including Germany, say the bloc is too dependent on Russia’s fossil fuels to withstand such a step. read more
“It’s pretty clear that the German economy will seize up so the EU is backing away from a Russian ban,”…
