OIL MARKETS

摘要

The price differential of Russian Urals crude to Dated Brent reached record levels at the start of July, exceeding $2/bl, as a result of a sharp drop in Baltic loadings in July, due to Russian production cuts as part of the OPEC+ agreement, combined with an increase in domestic refinery throughput. Its high price has made Urals uneconomical for some European refiners, drawing in alternative grades, shifting crude trade flows.