Noor Trends News, Technical Analysis, Educational Tools and Recommendations
A monitoring from Reuters revealed that Russian oil prices from the Volga River region for local market supplies for July delivery reached a record high, rising about 11% compared to the previous month due to the rise in oil prices in global markets.
Traders said that oil for July delivery at regional measuring stations jumped between 36,700 rubles and 37,100 rubles, which is equivalent to $507.60-513.10 dollars, per ton, up from 32,900-33,600 rubles a month ago, which is also a record level.
Brent crude prices reached their highest level since October 2018 this week and are on the rise since the beginning of this year thanks to the OPEC + supply cuts and the recovery in demand in light of the easing of Covid-19 restrictions.
Sector sources told Reuters that the oil from the Udmurtia region was in a bid for Rosneft, which amounted to 36,900 rubles per ton, but the company did not confirm the results of the bid.
