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<ul><li>There will three price caps; one for crude and two for refined products</li><li>US to detail in coming days and weeks how it will implement the price cap within the USA</li><li>Europe will have to decide if it wants a price cap on natural gas, US would support any decision</li><li>If  goes outside price cap coalition, it will have to rely on more-costly non-wester services to export oil</li></ul><p>Sounds like the 'non-western services' are about to collect a windfall because  has clearly said it won't sell oil to countries imposing the price cap. What it comes down to here is transportation and who has the ships to move n oil.</p><p>WTI crude oil has been steady in the past hour, holding gains of about $2.50.</p>

This article was written by Adam Button at www.forexlive.com.