FILE PHOTO: The oil tanker Minerva Virgo, docked at the oil terminal, is seen after leaving a Russian port around the time that nation invaded Ukraine in late February, since U.S. President Joe Biden on March 8 banned the importation of Russian energy, giving buyers until late April to wind down purchases, as several tankers linked to Russian oil are still in and around U.S. waters, according to Refinitiv data, at Bayonne New Jersey, U.S., March 22, 2022. REUTERS/Bjoern Kils/File Photo
The Biden administration broke its silence on Wednesday on European Union deliberations over a $65-70 per barrel Russian oil price cap on Wednesday, warning far-lower prices cited for some Russian Urals crude shipments should be approached with caution.
A U.S. official told Reuters that recently quoted Urals prices in the $52-a-barrel range do not represent broader pricing in a very opaque market.
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