https://retina.news.mail.ru/prev780x440/pic/7d/9f/main42300832_536393a53227f8e8d4dd40de8da4df1c.jpg

Moscow. June 23. INTERFAX.RU Oil on the physical market is more expensive in Europe against the background of a shortage of supply from Russia, according to Bloomberg.

In early July, the shipment of Urals oil in ports in the Baltic and Black seas will be 880 thousand barrels per day (b/d), according to calculations made by Bloomberg. If this level will continue until the end of the month, it will be the lowest since 2008.

the Premium of Urals to Brent last week amounted to more than $2 per barrel — the highest since 2015 — compared with a discount of about $4.5 in April.

“the Market seems to be actively in the process of rehabilitation,” notes the analyst JBC Energy GmbH Eugen Lindell.

He noted that the reduction in the production of the largest manufacturers and demand “is what you need to market for reducing and rebalancing”.

according to Bloomberg, oil demand in Italy, Spain, France and the UK in recent weeks, increasing against the background of easing of the restrictive measures imposed due pandemic.

the Reduction in the supply of the main varieties, including the Urals, has caused the growth in prices of other varieties. The cost of North sea oil last week rose on a background of extraordinary growth in the purchasing French Total, which is Europe’s largest oil refiner.

With the end of the twentieth century the world began to develop dynamically the market of so-called “paper oil”, i.e. futures contracts. By the middle of 1980-ies he often exceeded by the cost of the physical supplies, and today on the stock exchange the main volume is futures contracts.