Russian oil exceeds Western price cap ...News

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Russian oil exceeds Western price cap
Urals crude was trading well above $60 a barrel in August, according to statistics from the country’s Finance Ministry Russia’s flagship Urals crude averaged $74 per barrel last month, above the $60 price cap set by the EU and G7 countries in an attempt to curtail Moscow’s oil revenues. According to data released by the Russian Finance Ministry on Friday, the price was higher than the July average of $64.37 per barrel and slightly down from what it fetched in August 2022. To compare, the average price of the Brent crude benchmark was $86.20 per barrel in August. The price cap on Russian oil imposed by the EU, G7,

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