Free Trial

Russian Urals Discount Narrowed to 10.9$/bbl in Sept

OIL

The price of Russian Urals averaged 83.08$/bbl last month according to Bloomberg citing the Finance Ministry.

  • Urals have traded above the G7 price cap of 60$/bbl for three consecutive months with August at $74/bbl and July at 64.37$/bbl.
  • The Urals discount to Brent has narrowed to 10.9$/bbl in September based on the average North Sea Dated price of 93.98$/bbl.
  • The minimum Urals crude discount to Brent for tax-calculation purposes is currently set at 20$/bbl so the Finance Ministry will use the actual market price for tax calculations. Russian is aiming to lower the discount to 10$/bbl in 2025 and 6$/bbl in 2026.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.