Asian Jet Fuel Demand Bounces Back

1. All Russian Grades Are Now Running Afoul of the Price Cap- For the first time since the December 5 implementation of the Russian oil price cap, the price of Russia’s flagship Urals grade breached the $60 per barrel threshold according to Argus Media, a price reporting agency. - As the idea of the ceiling was to stop Russian exporters from using Western ships to transport their oil, simultaneously using Western insurance, this would come as a blow to Western sanctions efforts. - The risk of running afoul of the oil price cap might make…