Tanker

Russian oil is trading closer to USD 100 than the G-7 price cap

Russian oil is continuing to rise, defying an increasingly redundant price cap put in place by the Group of Seven and its allies. 
Russian oil cargo Pure Point, carrying crude oil. | Photo: Akhtar Soomro/Reuters/Ritzau Scanpix
Russian oil cargo Pure Point, carrying crude oil. | Photo: Akhtar Soomro/Reuters/Ritzau Scanpix
By Alex Longley, Bloomberg

Crude from the country’s western ports has rallied along with headline futures in recent days, Argus Media Ltd. data show. Russia’s flagship Urals grade is trading at USD 85.35 a barrel from the Baltic port of Primorsk and USD 86 from the Black Sea port of Novorossiysk.

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