EU bans Russian oil

The first is the EU's proposal to implement a crude oil ban on Russia. The proposal was put forward at the end of April, and it was officially submitted and discussed on May 4. The proposal attracted widespread market attention once it was announced. In particular, Germany, which was originally an opponent of the proposal, suddenly changed its attitude to support after the new prime minister took office, which greatly increased the market's expectations for the possibility of the plan's implementation, aggravating supply concerns. International oil price changed its turbulent pattern from the end of April to a strong one, which was largely driven by the news, and set the tone and support for the overall oil price trend in May.