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2014-06-02 21:30:00

RUSSIAN EXPORT SLOWED

RUSSIAN EXPORT SLOWED

Exports of Russian crude to Europe have slowed as prices weaken and trade flows shift towards China and other Asian markets.

Shipments of the Urals crude grade to northwest Europe from the Baltic Sea for June fell 18.2 per cent compared to the average for all of 2013, according to shipping data tracked by Barclays. Shipments from the Primorsk port were at the lowest in a decade. Meanwhile, Black Sea exports to the Mediterranean declined 10.7 per cent.

Rising tensions in recent months between Russia and the West over the annexation of Ukraine's Crimea have prompted some market participants to make a link between…

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Tags: OIL, RUSSIA
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