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Russia’s oil trade is rising as record volumes of Russian crude are carried on ‘dark fleet’ vessels
Recent data shows the discount on Russian oil narrowing and exports increasing despite the G-7 price cap on Russian petroleum exports and U.S. sanctions. price. That is far off the trading discount when the cap was first put in place. When the cap was fully phased in, in February 2023, Russian crude was selling at a 30% discount. A year ago, the discount was about 16%. Ukraine allies, including the U.S., have banned the import of Russian crude, while a price cap imposed on Russian oil by the G7 countries, the European Union and Australia bans the use of Western maritime services such as insurance, flagging and ... (full story)
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- Posted: Oct 14, 2024 1:20pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 143
