Oil Trader Trafigura Offers Russia’s Crude at a Record Discount
- CPC Blend oil from Russia is also offered at large discount
- Oil tanker companies wary about loading country’s barrels.
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Trafigura Group offered to sell Russia’s flagship Urals crude at another record discount, offering evidence that the country’s barrels are still struggling to clear after its invasion of Ukraine.
The oil trading giant offered the cargo at a $22.70-a-barrel discount to Dated Brent, a benchmark for physical oil transactions globally. That surpassed the prior discount it offered by about $34. There were no bids. A mostly Kazakh oil that gets exported from a Russian terminal in the Black Sea also slumped.