Urals crude topped $60 a barrel on Wednesday, according to Argus data Russia’s flagship Urals crude breached the $60 price cap set by the EU and G7 countries this week for the first time since the mechanism was implemented in an attempt to curtail Moscow’s oil exports. The Urals spot price reached $60.18 on July 12, while Primorsk and Novorossiysk-loaded cargoes hit $60.78 per barrel, according to Argus Media. A price cap on Russian oil imposed by the EU, G7, and allied countries last December prohibits Western shipping, insurance, and re-insurance companies from handling Russian cargoes unless they are sold at or
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