Value of Russian oil exports fall as G7 price cap nears
- According to a S&P Global Commodity report, the outright price for Russia’s flagship crude Urals slumped to 22-month lows in the run-up to the Dec 5 start for the mechanism as weak physical market fundamentals and anxiety around sanctions risk have spurred even steeper discounts
NEW DELHI : The value of Russia’s key crude exports has come under renewed pressure as EU sanctions and the G7’s price cap edge closer amid growing signs that the curbs pose little threat to Moscow’s resilient output and oil revenues, S&P Global Commodity Insights said in a report on Tuesday.
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