Argus: Premium of Urals oil price to Brent hits record of $2.35

MOSCOW, Jun 26 (PRIME) -- The CIF Rotterdam price of Russia’s Urals oil blend grew by U.S. $0.92 to $43.25 per barrel as of Thursday, with its premium to the Brent oil price growing by $0.40 to $2.35 per barrel, a record for the entire history of observation since September 1994, research agency Argus said in a statement on Friday.

The price was supported by reports about a decrease in Urals shipments scheduled for July by more than 40% due to reduction of oil output in Russia under the OPEC+ deal, the agency said.

The previous record of the premium of $2.30 per barrel was set in late May.

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