Russia’s Urals Oil Breaches $60 Price Cap For The First Time ...Middle East

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Russia’s flagship crude grade, which has been trading consistently below the price cap set by the G7 and the European Union, climbed above $60 per barrel on Wednesday. That’s supported by Argus Media data, cited by Bloomberg. It is now, for the first time, that observers can judge if the price cap is actually working. Before, with Urals trading below it anyway, it could hardly be argued that the cap was doing anything to deliberately squeeze Russia’s oil export income. In fact, because another Russian grade, ESPO, has been…

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Last updated : 13 July 2023 clock 09:40 AM

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Russia’s Urals Oil Breaches $60 Price Cap For The First Time ...Middle East

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