Home » Shell buys batch of Russian crude at discount without dealing with shipping Reuters

Shell buys batch of Russian crude at discount without dealing with shipping Reuters

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Shell buys batch of Russian crude at discount without dealing with shipping Reuters

Time: 2022-03-05 16:53:43source:

Guided readingFor well-known reasons, Russia has been sanctioned by some Western countries such as Europe and the United States, in areas involving economy and animals. Currently, Russian crude oil is unsalable. According to media reports, Shell is offering discounts to…

For well-known reasons, Russia has been sanctioned by some Western countries such as Europe and the United States, in areas involving economy and animals. Currently, Russian crude oil is unsalable. According to media reports, Shell bought a batch of Russian crude oil at a discount. Below, let’s take a closer look.

crude

It is understood that since being sanctioned by some Western countries such as the United States and the United Kingdom, Russia’s Urals crude oil has been seeking to sell at a much lower price than Brent crude oil, and did not find a buyer until Friday. According to media reports,Shell (SHEL.US), Europe’s largest oil company, bought a batch of Russia’s flagship crude at a discount of $250 to Brent, the benchmark for global spot oil tradingwithout having to deal with shipping issues.

Although Shell is buying Russian crude oil to maintain fuel supplies for its customers, some analysts have pointed out that about 70% of Russian crude oil is still difficult to find buyers even if the price is greatly discounted.

Article source: stock city network

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