Urals crude hits three-month high above $80 per barrel
Russian Urals crude prices at Baltic and Black Sea ports reached their highest point in three months during early September, according to monitoring data. Free-on-board prices for Urals crude loading at Primorsk, Ust-Luga and Novorossiysk this week climbed above $80 per barrel for the first time since June 4. The increase followed global oil prices ...
Urals crude prices have surged to a three-month high above $80 per barrel, according to monitoring data reported by Hellenic Shipping News. This significant increase in prices was observed at Baltic and Black Sea ports in early September, marking the first time since June 4 that Urals crude FOB prices surpassed $80 per barrel. The rise in prices can be attributed to global oil prices nearing $100 following new Middle East strikes, which have raised supply concerns.
Urals crude FOB prices had previously averaged above $80 per barrel in April and May during tensions between the United States and Iran. However, prices dropped below $70 per barrel during the summer months. The current spot rouble-denominated tax price of Urals crude stands at around 7,000 roubles ($82.12) per barrel, which exceeds the 5,440 roubles per barrel assumption used in calculating Russia’s 2026 federal budget revenues, which is based on a basket comprising Urals crude and the higher-priced ESPO Blend grade.
Brief written by urgent.news from Hellenic Shipping News's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
