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Russian Crude Prices Under Pressure

OIL

The value of Russia's key crude exports have come under renewed pressure as EU sanctions and the G7's price cap edge closer according to Platts.

  • The outright price for Russia's flagship crude Urals slumped to 22-month lows in the run-up to the Dec. 5.
  • Platts assessed medium sour Urals at $54.935/b Nov. 21, the lowest since Jan. 29, 2021.
  • Compared with Dated Brent, the Urals discount widened to $29.50/b Nov. 24, its highest since Aug. 11.
  • Russia's eastbound ESPO crude is valued higher and Platts assessed it at $74.32/b Nov 25.

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