Highlights Russian oil supply losses seen reaching at least 2 million b/d EU looks to US, Middle East, WAF suppliers to replace Russian oil Asian buyers eager for discounted Russian Urals The EU has agreed to ban Russian oil imports by sea, amounting to more than two-thirds of Russian crude deliveries to the bloc, in a move expected to further reshape global energy flows and add to price pressures as buyers seek alternative supplies. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Brent crude futures for August were up by 1.6%, or $1.92/b, at $119.51/b in mid-morning European trade after the announcement. Ahead of the EU decision, S&P Global Commodity Insights on May 27 forecast a loss of nearly 2 million b/d in crude and products supply from Moscow by year-end, as more buyers shun Russian oil. Below are key factors to watch: […]