Russian crude oil falls to $10.54 per barrel, lowest since 1999April 2, 2020 - 17:30 AMT PanARMENIAN.Net - The price for Urals oil blend for delivery to North-Western Europe fell on Wednesday to its lowest in more than two decades, the Argus agency, which tracks regional prices, reported on Thursday, April 2. The Urals price has fallen by $2.46 from Monday to $10.54 per barrel (CIF Rotterdam), the lowest since March 1999, the agency said. The average price of Urals oil from Western Siberia in the markets of North-Western Europe and the Mediterranean is now lower than companies' costs, which include production, transportation and export duties, Argus analysts said, according to Sputnik. Meanwhile, Brent and WTI oil futures rebounded on Thursday by about 10 percent as of 9:44 GMT, after US President Donald Trump said that Russia and Saudi Arabia would soon agree on market-regulating measures, the agency noted. The Russian budget for 2020 is balanced at $42.4 per barrel of Urals crude. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Russia warns Armenia against “falling into West’s trap” Zakharova maintained, however, that anything that will benefit the people of Armenia can only be welcomed. CSTO: Armenia has not participated in secretariat’s work recently Recently Armenia has not participated in the work of the secretariat of the CSTO, Imangali Tasmagambetov said. Meeting with U.S., EU not against third parties, says Armenia The meeting scheduled for April 5 is dedicated to strengthening of the Armenia-EU-US cooperation, Yerevan added. Ucom launches network modernization efforts in few regions of Armenia In particular, on March 28, the legacy Mobile Switching Subsystem will be replaced with a new one. |