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Oil Markets

Russian Spot Espo Market Takes a Tumble

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The spot market for Russian East Siberia-Pacific Ocean (Espo) crude collapsed dramatically as the Russian price cap kicked in on Dec. 5. Chinese demand remains sluggish, and the Russian grade is faltering against competing sanctioned crudes.

Topics:
Oil Spot Markets, Sanctions, Oil Demand, Crude Oil, Oil Products, Diesel/Gasoil
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