The price of Russia’s flagship crude grade, Urals, averaged $74 per barrel in August, slightly down from August 2022, but way above the G7 price cap of $60 and higher than the July average of $64.37 a barrel, according to data released by the Russian Finance Ministry on Friday. To compare, the average price of North Sea Dated Brent was $86.20 per barrel in August. Between January and August 2023, the average price of Urals was $56.58 per barrel, compared to an average of $82.13 a barrel for the same period of 2022, the ministry’s data…
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