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U.S. Sanctions Widen Russia’s Crude Discount to $20 a Barrel
The discount of Russia’s flagship crude Urals to Brent has widened in recent days to the highest this year at $20 per barrel as the U.S. sanctions on Rosneft and Lukoil upend crude flows, industry sources told Russian daily Kommersant on Wednesday. Urals has traded at a discount to Brent since the Russian invasion of Ukraine, with discounts susceptible to demand in China and India and the U.S. sanctions on Russia’s oil exports and industry. The sanctions last month sent the discount surging again. As of…