US Treasury Sec. Yellen and UK Finance Minister Zahawi discussed Russian oil price cap

Market news

27 July 2022

US Treasury Sec. Yellen and UK Finance Minister Zahawi discussed Russian oil price cap

US Treasury Secretary Janet Yellen and UK Finance Minister Nadhim Zahawi had a telephonic call early Wednesday.

Both top diplomats reportedly discussed the proposed cap on the Russian oil price, and other sanctions-related matters.

Market reaction

WTI was last seen trading lower by 0.63% on the day at $94.20. Recession fears continue to dent the demand for higher-yielding oil.

Commodities. Daily history for Tuesday, July 26, 2022

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