Traders of Russian and Caspian oil are dismissing talk that fear of an invasion of Ukraine has already caused European reOners to shun Russia's Urals crude. They point instead to high spot crude prices as the main reason for reOners to hold off on purchases of Urals. The prospect of international sanctions against Russia has appeared more likely over the last week or so, prompting concerns that buyers of Urals may seek to replace those barrels with alternative grades.
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