Russian Oil Sales Shift from $12 Discount to $4 Premium per Barrel - Rystad Energy

15:59; 26 March 2026 year

### Russian Urals Crude Trades at $4 Premium Amid Global Supply Disruptions Russian Urals crude oil is trading at a $4 premium per barrel against the North Sea Dated benchmark, according to a report by Rystad Energy, as cited by TASS. This marks a significant shift from a previous discount of $12 per barrel, highlighting the pace at which buyers have absorbed available Russian supplies. "Russia is the only country with significant spare capacity that can relatively quickly ramp up production under favorable commercial conditions," experts noted in the analysis. These findings corroborate statements made by Deputy Prime Minister Alexander Novak, who previously said that Russian oil was trading at zero discount or even a premium. Russian President Vladimir Putin had earlier cautioned businesses against "consuming" windfall profits linked to the Middle East conflict, emphasizing the unpredictable nature of its consequences. "If markets swing one way today, they may swing the other way tomorrow," he warned.

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