Several of Russia’s refined oil products are trading above the price cap imposed by G-7 nations, in another sign that the value of its barrels is rising in defiance of sanctions
Since February, there have been two caps on the sale of Russian refined fuels, one for higher value products at $100 a barrel and another for lower ones at $45.
Argus Media Ltd., whose prices are central to the caps, says naphtha and fuel oil are trading above the lower cap, while diesel is trading above the higher one.
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