07
Mar
Once again the flagship crude of Russia was offered at deeper discount in Europe amid tensions over Ukraine. Vitol Group offered 1 lakh tons of the nation’s Urals oil for delivery to Rotterdam at $7.25 a barrel less than Europe’s benchmark for physical cargo transactions Dated Brent. There were no bids in a window organized by S&P Global Platts. The grade had already been sold in a tender at $6 below the same measure and offered at minus $6.30. It is the largest discount in 11 years at least. Before the escalations this week, Traders flagged that the discounting wasn’t…