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OIL: FOB Urals Pricing from Baltics Falls Below G7 Cap: Reuters

OIL

Russia’s Urals oil prices fell below the G7 price cap of $60/b Sep. 10, amid weakness in global oil prices, Reuters said.

  • FOB Urals loading from the Baltic Sea were pricing at $59.89/b, while FOB loadings from the Black Sea were still above the cap at $60.33/b.
  • Russian Urals oil prices in the state’s port have been remarkably firm, holding above $60/b consistently throughout 2024, despite a brief weakening below the cap in June.

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