Among them, the price of New York light crude oil futures for June delivery rose $5.40, or 5.27%, to close at $107.81 per barrel; Brent July crude oil futures closed up $5.17, or 4.92%, to $110.14 per barrel.
In terms of news, on May 4, local time, European Commission President von der Leyen said that the European Commission submitted the sixth round of sanctions proposals against Russia on the same day, including a complete ban on the import of Russian oil by the end of this year. According to EU rules, the European Commission’s proposal requires the unanimous consent of the 27 member states to enter into force. Von der Leyen acknowledged that passage of the proposal would not be easy because some member states are highly dependent on Russia for energy.
Hungarian Foreign Minister Sijardo said on the 4th that Hungary does not support the European Commission’s new round of sanctions against Russia, because the program will undermine Hungary’s energy supply security.
Peter Adrian, chairman of the German Chamber of Commerce and Industry, said on the 4th that although companies’ demand for Russian oil can be made up by other sources of supply, the rise in oil prices caused by the Russian oil embargo will still increase financial pressure on companies.
In addition, the 28th ministerial meeting of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers will be held on May 5. At the 27th ministerial meeting held by video on March 31, OPEC and non-OPEC oil-producing countries decided to maintain the original moderate production increase plan in May this year, that is, the monthly total output was increased by an average of 432,000 barrels per day. (Sino-Singapore Jingwei APP)Return to Sohu, see more
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