The price of a barrel of Russian oil destined for export rose, and this came with the rise of international “Brent” crude above the level of $91 a barrel, for the first time since October 2014.
The trading data for Thursday (February 3, 2022) showed that the price of a barrel of Russian oil of the brand “Urals” exceeded the level of $93 a barrel, for the first time since October 2014.
The rise in Russian crude coincided with the rise in oil prices in the markets, as the barrel of “Brent” rose yesterday above the level of $91 a barrel.
Oil prices maintained the market’s upward trajectory, which is based on expectations that supply will continue to shrink, even after “OPEC +” adheres to moderate increases in pre-determined production.