Russian Urals crude oil prices jump ahead of EU embargo

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Russian Urals crude oil prices jump ahead of EU...
 © CyprusMail 2022
Russia’s key crude oil grade, Urals, has been trading at levels not seen in Europe since early March as refiners snap up the last barrels ahead of an European Union embargo, three traders familiar with the dealings said this week.

Urals oil is still flowing to European refiners under term deals concluded prior to February 2022. From early December, EU companies will no longer be able to buy Russian seaborne crude while the Group of Seven is also studying a Russian oil price cap.

Recent deals for September-loading Urals cargoes were done at benchmark dated Brent minus $22-25 a barrel on a...


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Article automatically added to our system on Wednesday, August 17, 2022

Russian Urals crude oil prices jump ahead of EU embargo


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Article Tags: #russian   #urals   #crude   #prices   #ahead   #embargo  


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