Houthi attacks on shipping spur rise in oil prices. Here’s a graph to put things in perspective, for the world price, and the price Russia is getting for its oil.
Source: TradingEconomics.com, accessed 12/19/2023.
The Brent-Urals gap is $19 per barrel.
Pass through from oil into gasoline is about 37% after about 3 months, according to Hakan Yilmazkuday.
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