Russian Oil Price Cap was Discussed by UK Finance Minister Zahawi and US Treasury Sec. Yellen

Early on Wednesday, US Treasury Secretary Janet Yellen and UK Finance Minister Nadhim Zahawi spoke over the phone.

July 27, 2022 - 11:58 AM 249 views

Russian Oil Price Cap was Discussed by UK Finance Minister Zahawi and US Treasury Sec. Yellen

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© Russian Oil Price Cap was Discussed by UK Finance Minister Zahawi and US Treasury Sec. Yellen

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Early on Wednesday, US Treasury Secretary Janet Yellen and UK Finance Minister Nadhim Zahawi spoke over the phone.

The proposed cap on the price of Russian oil and other sanctions-related topics are said to have been discussed by both senior diplomats.

The Market Reaction

WTI was last spotted trading at $94.20, down 0.63 percent for the day. Fears of a recession are still hurting demand for oil with higher yields.

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