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The widening of the discount range of Russian oil reflects trading risk

 Last Update: 2023-02-27
 Source: Internet
 Author: User

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Negotiations within the European Union to include an oil embargo in its sanctions plan against Russia could stoke concerns
about growing tightness in global supply.
German leaders warned that the move could have devastating consequences
for the EU economy as supply shortages will exacerbate inflation.
Despite a brief rally in late March, the discount of Russian Urals to Brent has widened from the parity on Feb.
1 to minus $31.
15 on April
21.
This suggests that traders are concerned
about the possible impact of a ban on Russian oil on inflation and energy security.
In 2022, the turnover of Urals crude oil trading may exceed $120 billion
.

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