Russia’s Urals crude hits $60/b price cap as OPEC+ output cuts bite

The value of Russia’s key Urals crude export grade has hit $60/b for the first time since the US-led G7 coalition rolled out its price cap on Moscow’s oil, in a move set to test the shipping industry’s resolve to continue transporting Russian crude. Urals values have been lifted along with other medium sour crude grades after Saudi Arabia and…