OREANDA-NEWS  Russian premium oil ESPO began to cost less than $60 per barrel. This is reported by RBC with reference to data from the Argus pricing agency.

It is claimed that the cost of the brand has decreased to 55.92 dollars per barrel. The day before, it cost 61.27 dollars per barrel.

Now the ESPO brand quotation is below the "price ceiling" for Russian oil set by the G7 countries at the end of 2022. At the same time, ESPO, like Urals oil, is now below the base price set in the Russian budget for 2025 (69.7 dollars per barrel).

Earlier, Boris Martsinkevich, editor-in-chief of the online magazine Geoenergetics Info, explained the collapse in oil prices. According to him, this is due to the current panic in the global energy market due to the large-scale duties of the US authorities.