Russia's main oil product is trading way below the $60 price cap as just a handful of buyers keep up trade with the heavily sanctioned nation

Jan 9 2023 by Business Insider

 
Russian President Vladimir Putin

REUTERS/Ueslei Marcelino

Russia's Urals blend is now trading well below the $60 price cap at just $37.80 a barrel, according to data from Argus Media. That's less than half the international benchmark Brent crude, squeezing Russia's oil revenue. The nation is struggling to replace European oil customers, and has just a few large oil buyers remaining.

Russia's main oil product is now trading way below the G7's $60 price cap, as the heavily sanctioned nation only...

Continue Reading Russia's main oil product is trading way below the $60 price cap as just a handful of buyers keep up trade with the heavily sanctioned nation