highlights

Ural is trading near record lows, discounted nearly $40/b to Dated Brent

Russia shipped 627,000 b/d Urals to India in April, up from zero in February

Europe is weaning itself from the crude Russian invasion of Ukraine

India emerged as the largest buyer of Russian Ural crude in April, lured by sharp discounts as several of the variety’s regular European customers boycotted the oil following the Russian invasion of Ukraine.

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