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  • Report: Shell Buys Russia’s Urals Oil at Record Discount

    03/04/2022 11:46:52 AM PST · by conservative98 · 18 replies
    Breitbart ^ | 4 Mar 2022 | JOHN CARNEY
    Shell reportedly agreed to purchase Russia’s benchmark Urals crude from Trafigura Group at a record discount, confirming that many in the market continue to avoid the country’s oil but that at a bid still remains if the price is low enough. Shell reportedly will pay a price around $28.45 below the going rate for Brent Crude, Bloomberg News reported Friday. Typically, Urals have priced two to three dollars below Brent. The cargo has been bought on a delivered basis, according to Bloomberg. That means Shell won’t need to work out the transportation and will not be liable for payment if...