A piece from Energy Intelligence:
- reductions for Russian Urals and Espo crudes have widened since an EU ban on Russian crude imports and G7 worth cap took impact on Dec. 5.
- large patrons of Russian oil like India and China get extra leverage to barter decrease costs with Moscow.
- Urals crude at Baltics ports this week was assessed at $45/bbl, a reduction of greater than $30 versus dated Brent
- Export grade Espo in Asia flipped to an $11/bbl low cost to dated Brent from a premium of some {dollars} earlier.
- Before Russia invaded Ukraine in late February, Urals offered at a reduction of about $2/bbl or so to dated Brent and Espo at a gentle premium.
Much extra data on the hyperlink above. Worth a learn.
“What!!! … You offered it how low-cost???”
