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.