Oil prices high due to new European Union sanctions against Russia
Jul 19, 2025
Oil prices edged higher on Friday as investors weighed new European Union sanctions against Russia. As per reports that its latest sanctions package will lower the G7’s price cap for buying Russian crude oil to 47.6 dollar per barrel.
Brent Crude was trading over 0.7 percent up at 70 dollars and four cents per barrel, and WTI Crude was trading almost one per cent at 68 dollars and 19 cents per barrel.