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The excess cost of freight reduces the cost of Russian oil in ports, as sellers ...

No one wants to risk: what happens to the transport of Russian oil three days before the embargo

The excess cost of freight reduces the cost of Russian oil in ports, as sellers try to ensure the competitive final price of oil in the market. The transportation of Russian oil from the Baltic Sea to India has risen from $ 11. 5 million. up to $ 15 million For deliveries after December 5, when the European Union oil embargo against Russia will take effect. About it writes Bloomberg.

It is noted that the owners of tankers who are ready to carry "black gold" of Russia and after the embargo, set an additional risk for risk. According to brokers, transport rates from the Baltic Sea to India are discussed at the level of about $ 15 million, or $ 20 per barrel for deliveries after December 5. Earlier, the rate rates ranged from $ 9 to $ 11. 5 million/barrel.

At the same time, the excess cost of freight reduces the cost of Russian oil in ports, as sellers try to ensure the competitive final price of oil in the market. The European Commission on Thursday, December 1, appealed to 27 Bloc Member States to approve the ceiling of Russian oil prices at $ 60 per barrel. In addition, an additional adjustment mechanism was developed, which should keep the cost of Russian oil at least 5% below the market.

Countries are prevented by the countries of Poland, which requires setting a price tag no higher than $ 30 a barrel. According to Bloomberg, participants in the world shipping market also expect details to limit the price of Russian oil to G7 countries, which can release the supply of Russian oil from EU sanctions if they are traded at a price lower than the border border.

For its part, the Deputy Head of the Ministry of Finance, the US believes that the EU will be able to agree on the final price limit for Russian oil by December 5, despite the denial of Poland. Earlier, the United States named the marginal price of Russian oil. According to the head of the American Ministry of Finance Janet Ellen, Moscow was ready to produce and sell black gold for $ 60. Russian oil Urals now costs about $ 75 per barrel.