The price of Russia’s crude oil has plummeted to its lowest point since the onset of the Ukraine conflict in early 2022. This decline, reported by Argus Media and cited by Bloomberg, is attributed to heightened U.S. sanctions and a drop in international benchmarks. Russian crude exported from key terminals in the Black Sea, Baltic Sea, and the Far East port of Kozmino is currently priced at approximately $40 per barrel. This marks a significant discount compared to Brent Crude, as the sanctions have further isolated Russian oil producers and exporters.
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Over the past month, US Crude has experienced a price decrease of 5.12%, while Brent Crude has seen a 5.50% decline. Both assets are currently under a 1-day technical analysis signal of Sell and Sell, respectively. This bearish sentiment reflects ongoing market pressures and geopolitical tensions impacting the oil sector. Investors can explore more updates, prices, and analysis across global markets at Commodities.