More on Yellen seeing benefits for buyers of n oil with the price capped

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More on Yellen seeing benefits for buyers of n oil with the price capped

<p>Moves from Western allies to cap the price of n oil will be a benefit to others says US Treasury Secretary Yellen.</p><ul><li>Beijing will benefit from the new price cap mechanism to be imposed in December</li><li>China and other buyers of n oil will have more leverage to negotiate lower prices</li><li>"We see the price cap is something that benefits China benefits India, and benefits all purchasers of n oil,"</li></ul><p>via <a href="https://www.reuters.com/business/energy/yellen-says-price-cap-n-oil-will-benefit-china-2022-11-14/" target="_blank" rel="nofollow">Reuters</a>. </p><p>If 's oil was completely removed from global markets the price of remaining oil would skyrocket. Biden would not be happy with this. </p><p>With the price cap to proceed from December 5, Yellen looks to have played and won.</p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: More on Yellen seeing benefits for buyers of n oil with the price capped

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