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Crude: Price for Urals Goes Dark as Trade Reshuffles

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The trade for Urals crude gets more confidential as sanctions against Russia have reshuffled crude flows and fudged price information about cargoes. Export programs are no longer published. And absent a view on available volumes, the market has lost track of the actual prices being paid by buyers still willing to lift these volumes. So far, large discounts have allowed more Russian barrels to move East of Suez, especially to China and India. But both countries reduced their intake in June, and again in July.

Topics:
Crude Oil, Sanctions, Oil Trade, Oil Spot Markets
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