Russia's flagship Urals crude oil plunged to $34 a barrel
The grade in the Baltic Sea slumped to $34.82 a barrel on Friday, while in the Black Sea it fell to $33.17. For comparison, Dated Brent on that day stood at about $61.
The discounts for Urals work out at an average of about $27 a barrel at point of export, according to Argus. By the time the oil gets to India, that discount narrows to about $7.50.
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