highlights
Price cap more than $4/b above the current Ural crude oil price
Market still uncertain about implementation, potential for circumvention
Price cap/EU embargo diverting about 2 million barrels of oil per day
The EU reached agreement on December 2nd on a price cap of $60/b for Russian crude, paving the way for the G7-led initiative to start on December 5th, a move expected to see global sea oil trade as Russian crude and oil will continue to shake Products are struggling to find new ones…
