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Thursday, July 25, 2024

Russia’s economy is in shambles and its oil exports are collapsing — but its crude oil just smashed a crucial price cap

Russia’s economy is struggling, but the commodities giant could be getting an uptick in its flagship oil price — the Urals crude oil price just breached a crucial cap for the first time since December 5. A $60-a-barrel price cap has been imposed on Russia by the G7 countries to achieve two goals: it …

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