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Russia plans to fix Urals crude differential at -$20 to brent - report
Russia is planning to fix the differential for its main crude export -- urals -- to minus $20 from brent. Currently brent is trading at $86 so that would put it at $66.
Crucially, $66 is well-above the $60 price cap set by Europe and G7 nations. So far that price cap doesn't appear to be a problem but it could if/when crude prices rally.
The move by Russia may indicate some annoyance at wide differentials to its crude and customers asking for deep discounts. Fixing it, I suspect,... Read More
Posted: Feb 10 2023, 16:20
Author Name: forexlive
Views: 082358