Russian Urals crude oil prices have dropped below $70 per barrel, the lowest level in three months, pressured by faded fears of supply disruptions on Red Sea due to talks of ceasefire between Hamas and Israel. On the other hand, the commodity was underpinned by hopes for a demand recovery since latest data from one of the main trading partners China showed the country's imports grew by 5.9% in April. Also, Russia's crude oil exports remained strong, rising to their highest since May 2023 last week as ongoing refinery maintenance limited domestic oil processing.

Urals Oil increased 9.77 USD/Bbl or 16.37% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Urals Oil reached an all time high of 117.65 in February of 2013. This page includes a chart with historical data for Urals Crude. Urals Oil - data, forecasts, historical chart - was last updated on May 11 of 2024.

Urals Oil increased 9.77 USD/Bbl or 16.37% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Urals Oil is expected to trade at 81.33 USD/Bbl by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 86.97 in 12 months time.



Price Day Month Year Date
Crude Oil 78.20 -1.060 -1.34% -8.02% 10.59% May/10
Brent 82.73 -1.150 -1.37% -7.81% 10.34% May/10
Natural gas 2.25 -0.0490 -2.13% 12.60% 2.83% May/10
Gasoline 2.50 -0.0486 -1.91% -9.89% 1.71% May/10
Heating Oil 2.43 -0.0483 -1.95% -8.71% 3.53% May/10
Coal 144.00 0.05 0.03% 9.09% -11.66% May/10
TTF Gas 29.86 0 0% 1.13% -14.67% May/11
UK Gas 72.56 0 0% -1.39% -10.15% May/11
Ethanol 1.81 0 0% 11.21% -24.90% May/10
Naphtha 655.26 -11.09 -1.66% -4.11% 12.61% May/10
Propane 0.69 -0.003 -0.36% -14.88% 3.12% May/10
Uranium 93.25 -0.5000 -0.53% 4.02% 74.63% May/09
Methanol 2,621.00 -12.00 -0.46% 4.26% 16.18% May/10


Urals Oil
Urals oil is the reference oil brand used as the price benchmark for Russian oil exports. It is a blend of the heavy and sour oil from the Urals and Volga regions with the lighter oil from Western Siberia. It is transported to Europe through the Druzhba pipeline and to Baku through the Novorossiysk pipeline, while main seaborne importers are China and India since 2022. Futures contracts of 1,000 barrels are traded in the St. Petersburg International Mercantile Exchange (SPIMEX). Pricing is also commonly seen as a discount to Brent crude oil. The Urals oil prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
69.47 70.00 117.65 8.40 2012 - 2024 USD/Bbl daily