some heating oil supply in Germany, or diesel prices that are pointing to shortages. Brent oil soared as high as $139.13 a barrel on Monday before easing to around $123.
Still, five oil traders in Europe who are normally involved in Russian cargoes said the sanctions threat, and the reaction to Shell’s move, have made any Russia-related business even harder. We have also stopped most activities involving Russian oil. However, we currently purchase it and other Russian products for some refineries & chemical plants to ensure that we continue the production of essential fuels & products that people & businesses rely on every day. There were no bids or offers for the Russian grade on Monday in a pricing window run by S&P Global Platts.
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