The price of Urals oil has come close to the price ceiling – Kommersant
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According to Argus Media, the price of Russian Urals oil rose to $59.98 on July 11 in the Black Sea port of Novorossiysk. The price of Urals oil in the port of Primorsk on the Baltic Sea also rose to $59.38 per barrel. If oil crosses the $60 threshold, it will allow Russia to demonstrate that it “can supply its barrels to buyers around the world without the help of Western firms,” writes Bloomberg.
In December 2022, the European Union and the G7 countries introduced a price limit for oil from Russia – it cannot be sold above $60 per barrel. From February 5, 2023, there is also a ceiling of $100 and $45 per barrel (for products that are traded at a premium and a discount to oil, respectively). In February, Bloomberg wrotethat Russia has been selling oil above the price ceiling for at least four weeks. At that time, a barrel of Russian oil cost about $74 on average. In April, the International Energy Agency also noted an increase in the supply of Russian oil and petroleum products abroad.
Details – in the material “Kommersant” “Russian oil has broken through the ceiling”.
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