AERC continues to monitor prices for Russian oil according to the St. Petersburg Commodity and Raw Materials Exchange.
In October, prices for Russian Urals oil remained higher than prices for the benchmark Brent. This situation has been observed since August of this year. Although, on October 24, negative dynamics in Russian oil prices began, bringing its price closer to the Brent price.
However, the price ceiling of $60/bbl. still doesn’t work, because Russia has found a way to bypass the main mechanism of operation of this ceiling. Read more in the attached file.
