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European oil markets after the Russian embargo (part 1)

Oil Markets

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The Volatility of the European Sour Grades

We have been assessing above that cap of $60 a barrel for a while now. As of August 8th, we are in the above $70 a barrel at this point in time. In euros discounts have been narrowing to dated Brent as a result of the tight sour market and all those recent cuts I was talking about earlier. And with regards to the attacks that we have been seeing recently in the Black Sea, we are hearing potential concerns around grades such as CPC blend.

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