Philippine Foreign Minister Lazaro says they are looking into whether to import oil from Russia
Newsquawk Staff ·
Philippine Foreign Minister Lazaro says they are looking into whether to import oil from Russia.
What it means
The Philippine Foreign Minister's statement about exploring oil imports from Russia signals a potential shift in energy policy that could impact regional geopolitics. This move may provoke reactions from the international community, particularly amid ongoing sanctions against Russia, and could influence energy prices, particularly WTI. Traders should be on alert for market volatility as geopolitical dynamics evolve.
- CRUDE WRAP: WTI (Z6) SETTLES USD 1.86 LOWER AT 99.90/BBL; BRENT (F7) SETTLES USD 1.33 LOWER AT 109.41/BBL
- Russian refineries’ crude processing up 25% since drone attacks stopped in mid-October, according to reports, citing sources
- Russian Deputy PM Novak says domestic refineries are bringing units back online very quickly following maintenance. Russia and the US could begin cooperating on Arctic LNG projects
- Russian President Putin says Russia should avoid going too far with the green agenda and must consider ending the ongoing conflict and lifting sanctions
- Senior Ukrainian official says the ceasefire in Oleshky will last until November 1st
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