Russia’s Flagship Oil Falls Further Below Proposed EU Price Cap
The Mendeleev Prospect oil tanker moored at the Primorsk Commercial Seaport.
Photographer: Alexander Ryumin/TASS/Getty Images
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Russian flagship crude oil dipped again on Friday, serving as a reminder of the challenges facing European Union diplomats haggling over a price level at which to cap Moscow’s exports.
The country’s key Urals grade fell to $51.96 a barrel at the Baltic Sea port of Primorsk, according to data provided by Argus Media Ltd., a publisher of physical commodity prices. It fell by a similar amount, and to a similar level, from Novorossiysk in the Black Sea.