Russia’s oil price plunge

Russia’s flagship Urals grade crude oil is trading more than a third below the price of international benchmark Brent following sanctions targeting the Kremlin’s revenue
  

Brent (US$ per barrel)
West Texas Intermediate
Urals crude

Feb 1:
Brent $89.16 
WTI $93.10 
Urals $90.47

Feb 24, 2022: Russia invades Ukraine 
   
Mar 2: $109.33 

Mar 7: Urals crude peaks at $105.23

Mar 10: $127.98

Apr 20: $76.28. Rosneft, Russia’s largest crude exporter, holds firesale of 38m barrels of Urals crude

Nov 7: $82.78 European buyers shun Urals crude
             
Dec 5: G7, EU and Australia impose $60 per barrel price cap. EU seaborne embargo

$80.28

$75.08

Jan 10: $51.06 – 36.4% below Brent

120
100
80
60
40 
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
    
          
Sources: Argus Media, Bloomberg, CSIS, Investing.com 
Pictures: Getty Images 
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