Update: Russia’s Oil Discount Steadies at ≈20%
In a previous post, we showed that Russia was able to achieve an increasing price for its crude oil and the discount to Brent was also narrowing. However, according to latest market data it is becoming apparent, that Russia’s options in terms of oil sales to alternative parties may be limited. The price difference between Urals and Brent has hovered at levels of around 20% since mid-May reaching a short-term low of 17% in mid-June.
