Russian Urals Oil Prices Flip to Discount in Asia
Russian Urals oil prices have shifted to a discount against dated Brent at Indian and Chinese ports as demand from Asian refiners softens. Cargoes for delivery in July and August are trading at discounts of 2 to 3 dollars per barrel compared to the significant premiums seen earlier this spring.
Xurve View
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Xurve View
Russia Urals crude flipped to a $2 to $3 discount against Brent Crude Oil at Asian ports this June. The price shift follows premiums of $7 to $8 per barrel recorded during April and May. Shrinking margins and high inventories in India and China are forcing Russian exporters to accept lower prices.
