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Urals Crude

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world3 hours ago•4 min saved

Oil Shock Eases Russia’s War Budget as Iran Strike Sends Prices Higher

An oil price spike triggered by the Iran strike lifts Russia's Urals toward its 2026 budget assumption, easing revenue shortfalls caused by sanctions and refinery damage. If Gulf disruptions persist, Brent could hit around $120 or higher, with worst-case scenarios near $200 if Hormuz is fully disrupted; meanwhile, shifts in China and India toward discounted Urals could bolster Moscow's revenue. Despite a shrinking National Wealth Fund and a large deficit, the Iran conflict momentarily improves Russia’s budget outlook by sustaining oil income.

via Euromaidan Press|

#iran-strike #oil-prices #russia-budget

world1 month ago•47 min saved

Urals Oil Backlog Grows as Tankers Idle and Exports Falter

Russia shipped about 3.42 million barrels per day of Urals crude in the four weeks to Jan. 11, but is struggling to offload, leaving at least 12 tankers idle off Oman and more waiting near China; export value fell to around $950 million per week as prices declined for a 15th straight week. Most Murmansk shipments now head to China, while Indian buyers are shunning sanctioned Russian barrels, complicating Moscow’s export rebound. The White House is pursuing sanctions on buyers of cheap Russian oil, and flows are further affected by drone attacks in the Black Sea and weather disruptions at Kozmino. Russia’s oil production also fell in December, underscoring a faltering export picture.

via Bloomberg.com|

#india #oil-exports #sanctions

energy2 years ago•1 min saved

Global Demand for Russian Oil Surges in April

Loadings of Russia's flagship Urals crude from western ports are set to reach their highest level since 2019, with more than 2.4 million bpd expected for April, despite Moscow's 500,000 bpd output cut. The price of Urals crude is threatening to exceed the $60 per barrel price cap set by the G7, buoyed by OPEC+ production cuts. Analysts are uncertain whether Moscow's cuts have been implemented as planned since March, but a major thirst for discounted Urals crude from Asia continues to drive exports.

via OilPrice.com|

#energy #oil-loadings #opec