Russian Urals crude jumped to around $110 per barrel, the highest since 2013, as global oil prices climbed amid the ongoing Middle East conflict. Disruptions to Gulf supplies through the Strait of Hormuz have pushed crude above $100, with Russia benefiting as buyers seek alternative sources. President Donald Trump said he expects to reach a deal to end hostilities but also threatened strikes on Iran’s energy infrastructure, including Kharg Island, warning that if the strait is not reopened, the US could target oil and power facilities. President Vladimir Putin urged Russian producers to capitalize on soaring prices but cautioned that the surge is temporary. Meanwhile, the US expanded a permit allowing countries to purchase Russian crude, extending a temporary waiver previously granted only to India. Indian refiners, including Indian Oil Corp. and Reliance Industries, have bought around 30 million barrels of Russian crude after receiving approval in early March, according to sources.

Urals Oil rose to 121.17 USD/Bbl on April 2, 2026, up 14.60% from the previous day. Over the past month, Urals Oil's price has risen 76.04%, and is up 87.05% compared to the same time last year, 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 123.45 in March of 2026. This page includes a chart with historical data for Urals Crude. Urals Oil - data, forecasts, historical chart - was last updated on April 3 of 2026.

Urals Oil rose to 121.17 USD/Bbl on April 2, 2026, up 14.60% from the previous day. Over the past month, Urals Oil's price has risen 76.04%, and is up 87.05% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Urals Oil is expected to trade at 115.45 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 125.86 in 12 months time.



Price Day Month Year Date
Crude Oil 111.54 11.420 11.41% 49.60% 66.60% Apr/02
Brent 109.03 7.870 7.78% 33.94% 55.45% Apr/02
Natural gas 2.80 -0.0190 -0.67% -8.32% -32.33% Apr/02
Gasoline 3.29 0.1966 6.36% 33.80% 52.55% Apr/02
Heating Oil 4.36 0.3043 7.50% 36.84% 100.05% Apr/02
Coal 137.90 0.70 0.51% -0.07% 38.73% Apr/02
TTF Gas 50.08 0.04 0.08% 2.70% 37.11% Apr/03
UK Gas 126.55 -0.3477 -0.27% -0.26% 42.28% Apr/03
Ethanol 2.01 0.0350 1.78% 11.39% 11.08% Apr/02
Naphtha 985.04 67.21 7.32% 47.05% 69.38% Apr/02
Propane 0.78 0.02 2.26% 4.76% -11.47% Apr/02
Uranium 85.15 0 0% -1.16% 31.20% Apr/03
Methanol 3,276.00 26.00 0.80% 28.67% 32.04% Apr/03


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
121.17 105.73 123.45 8.40 2012 - 2026 USD/Bbl daily

News Stream
Urals Oil Rises to 13-Year High
Russian Urals crude jumped to around $110 per barrel, the highest since 2013, as global oil prices climbed amid the ongoing Middle East conflict. Disruptions to Gulf supplies through the Strait of Hormuz have pushed crude above $100, with Russia benefiting as buyers seek alternative sources. President Donald Trump said he expects to reach a deal to end hostilities but also threatened strikes on Iran’s energy infrastructure, including Kharg Island, warning that if the strait is not reopened, the US could target oil and power facilities. President Vladimir Putin urged Russian producers to capitalize on soaring prices but cautioned that the surge is temporary. Meanwhile, the US expanded a permit allowing countries to purchase Russian crude, extending a temporary waiver previously granted only to India. Indian refiners, including Indian Oil Corp. and Reliance Industries, have bought around 30 million barrels of Russian crude after receiving approval in early March, according to sources.
2026-03-30
Urals Oil Prices Remain Stable
Urals crude has been trading between $61 and $65 per barrel since August, compared with $65–69 for Brent. China remains the largest buyer of Russian crude, while Russia continues to be India’s top supplier. In response to India’s purchases, US President Trump launched a pressure campaign, warning that cutting imports would help push Moscow to end the conflict. After New Delhi refused, Washington imposed a 50% tariff on Indian imports, effective August 27. Despite the move, India has maintained its buying. Meanwhile, Ukrainian drone attacks in September disrupted Russian exports and raised risks of production cuts, forcing Moscow to redirect shipments to other western ports. New restrictions on sanctioned tankers have further complicated Russian flows. In July, the EU and UK imposed additional measures, introducing a floating price cap set at 15% below the average market price—currently around $47.60 per barrel—well below the G7’s $60 cap established in December 2022.
2025-09-22
Urals Oil Price Around $62
Urals crude has been trading between $61 and $65 per barrel since August, compared with $65–69 for Brent, narrowing the discount to its smallest since the war in Ukraine began in 2022. China remains the largest buyer of Russian crude, while Russia has continued to serve as India’s top supplier. In response to India’s purchases, US President Trump launched a pressure campaign, arguing that cutting imports would push Moscow to end the conflict. After New Delhi refused, Washington followed through with its threat, imposing a 50% tariff on Indian imports effective August 27. The G7 introduced a $60 per barrel price cap on Russian crude in 2022, and the EU along with several G7 partners—though not the US—will lower the threshold to $46.50, despite lingering doubts over its effectiveness. Since the cap took effect in December 2022, Urals crude has traded above $60 on roughly 75% of trading days, supported largely by shipments through so-called “dark fleets,” according to Reuters.
2025-09-02