Quantum Commodity Intelligence – Global crude oil prices rose in January after a sluggish start to 2023, with key benchmarks including Brent and Dubai posting comfortable gains of 3-4% on a monthly average basis.

The exception was Russia’s flagship Ural crude as export prices fell after EU sanctions on Russian crude took effect in early December, along with the US-led $60/b price cap.

Ural export prices averaged $49.48/b in January, according to Russian Finance…

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