Prices for Russian Urals oil have fallen to $36.61 per barrel. This is a record low for the past two and a half years.
The price of Russian Urals oil, supplied from the port of Novorossiysk, fell to $36.61 per barrel last Thursday, November 13.
This is the lowest level since March 2023, reported Bloomberg, citing data from Argus Media. The next day, November 14, the price of oil rose slightly, as quoted by "Meduza".
Prices for Russian oil in international markets began to decline after the U.S. announced sanctions against the companies "Rosneft" and "Lukoil" on October 22. The sanctions will take effect on November 21. Oil refineries in China, India, and Turkey are already suspending purchases and seeking alternative sources of supply, Bloomberg notes.
