Reuters had the report overnight ICYMI.
- Traders said Russia has been unable to fully redirect Urals exports from Europe to other markets, notably India and China, and it had struggled to find enough suitable vessels.
- According to traders' data and calculations made by Reuters, Urals exports from the Baltic Sea ports will probably fall to around 5 million tonnes this month from 6 million tonnes in November. Some estimates are as low as 4.7 million tonnes.
This is related to Western sanctions on the terrorist Russian state, including the $60 price cap on Russian oil. Urals have been trading at steep discounts, India and China big buyers. The cap allows non-EU countries to import seaborne Russian crude.
Chart only a guide, weekly candles:
