Russian Oil Has Fallen to a Minimum since 1999
Batches of Urals with delivery to the Mediterranean fell in price by $ 4.26 per barrel per week up to $ 18.45 per barrel. On this basis, this is the minimum price since 2002, the agency notes. CIF delivery terms mean that the final price includes freight costs to the port of destination and cargo insurance, which the seller assumes.
The price of Urals offshore consignments declined over the week amid information about an increase in oil shipments from Russian ports in April by almost 13% compared to March.