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OIL MARKET: Shell has just published a second statement trying to explain its decision yesterday to buy a cargo of Russian Urals crude (at a record discount of $28.5-a-barrel under Brent). The statement is reproduced below in full, but with own highlights | #OOTT #Ukraine
If we take Shell's comment at face value that they were a single cargo away of trouble ("...cargoes from alternative sources would not have arrived in time to avoid disruptions..."), then the physical crude market is tighter than thought, and prices will rise much further #OOTT
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