Russia’s Novak: Russia won't supply oil under price cap in any case

“Russia won't supply oil under price cap in any case,” the country’s Deputy Prime Minister Alexander Novak said on Tuesday.

Novak said: “Russia, Kazakhstan and Uzbekistan are discussing gas union for shipments, including to China.”

Market reaction

Novak’s comments join the upbeat market mood, lifting WTI 2.5% to trade at around the $79 mark, at the press time.

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Confirming you are not from the U.S. or the Philippines

Russia’s Novak: Russia won't supply oil under price cap in any case

Market reaction

USD still unlikely to benefit from more hawkish Fed’s statements – Commerzbank

ECB’s de Guindos: Must continue to monitor underlying inflation