The West continues to increase pressure on the Russian oil and gas industry. The US, the EU and the UK are introducing new sanctions. However, the price of Russian oil is more influenced by global prices, which are falling.
In the first half of September, the cost of Russian Ural oil for delivery to Russian ports on the Black and Baltic Seas fell from $68 in August to $61 per barrel in the first half of September, Interfax reports on the basis of Argus data.
The pricing agency noted that the discount for Russian oil for shipment to Russian ports remained unchanged and remained at the level of $12.5-$12.8 relative to the North Sea Brent benchmark.
Another thing is that the reference oil itself fell in price, also by about 7 dollars per barrel: from 80.7 dollars to 74 dollars.
According to Argus, the price of Urals fell below the G7 and EU price ceiling of $60 in September, but this lasted for three days, from September 9 to 11.
At delivery ports, the price of Russian Ural oil also fell by $7 (in India to $69.9, in China to $72.2). However, the Far Eastern ESPO variety fell less. Its shipment at the port of Kozmino fell by $4 to $68.
