Prime Minister of Denmark Mette Frederiksen said that the main parliamentary parties of the country have agreed to abandon Russian gas in the near future. This could be a crucial theme in the market this week as the US moved to seek EU support for curbing Russian oil imports.
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Secretary of State Blinken: US is “looking” at banning Russian oil and gas, but need permission from EU
Meanwhile, the latest on this front comes in the headline that US House Speaker Nancy Pelosi is exploring legislation that would ban Russian oil imports. The sanction has already been backed by wide numbers of Republicans and an increasing number of Democrats. A bill to ban oil and energy imports from Russia would terminate normal trade relations with Russia and Belarus and cancel Moscow's access to the WTO. At the time of writing, WTI is trading around $124bbls, below the highs of the day of $127.54.