Russian oil – discount sale. Urals crude at Baltics ports this week assessed at $45/bbl. | Forexlive

A piece from Energy Intelligence:

• discounts for Russian Urals and Espo crudes have widened since an EU ban on Russian crude imports and G7 price cap took effect on Dec. 5.
• big buyers of Russian oil like India and China get more leverage to negotiate lower prices with Moscow.
• Urals crude at Baltics ports this week was assessed at $45/bbl, a discount of more than $30 versus dated Brent
• Export grade Espo in Asia flipped to an $11/bbl discount to dated Brent from a premium of a few dollars earlier.
• Before Russia invaded Ukraine in late February, Urals sold at a discount of about $2/bbl or so to dated Brent and Espo at a steady premium.

Much more info at the link above. Worth a read.