17 Apr 2023 15:16

Urals discount to Brent falls to minimum since Nov-Dec - MinFin data

MOSCOW. April 17 (Interfax) - The average price of Urals crude for the monitoring period from March 15 to April 14, 2023 was $51.15 per barrel, or $373.4 per tonne, the Russian Finance Ministry said Monday.

That indicates that the Urals discount has continued to fall from its record levels to just under 36.5% compared to Brent (the average price over the period was $80.4). The spread reached 43% from December 15 to January 14, and the last time it was lower than the current level was from mid-November to mid-December 2022 - about 32%.