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Commodities Briefing - Categorized | Oil, Price Watch more

Russian oil prices fall below $100/barrel, straining budget

Posted on 19 August 2014

Russian Urals crude weakened for an eight straight trading day on Monday due to weak European refining demand, falling well below $100 a barrel for the first time in a year in a move to increase the pain for Russian state finances amid Western sanctions.
Russia has balanced its budget at $114 a barrel this year as President Vladimir Putin is ramping up social military spending amid a conflict in Ukraine, which sent relations between Moscow and the West to their worst since the end of the Cold War………………………………………..Full Article: Source


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