Russian Urals crude fell below $60 per barrel, marking a four month low as global benchmarks declined following an agreement between the US and Iran to halt mutual attacks. This temporary truce allows safer maritime navigation, accelerating oil shipments through the critical Strait of Hormuz. Although this de-escalation hints at a lasting peace deal to fully reopen a channel that previously handled 20% of global crude and liquefied natural gas, wary shipowners face ongoing bottlenecks, leaving hundreds of vessels still stranded in the Persian Gulf. Meanwhile, structural domestic issues emerged as Russian President Vladimir Putin acknowledged internal fuel shortages and widespread gas station lines. To counter this tight domestic supply, officials are considering a complete prohibition on diesel exports.

Urals Oil fell to 56.19 USD/Bbl on July 1, 2026, down 4.67% from the previous day. Over the past month, Urals Oil's price has fallen 35.37%, and is down 11.60% 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 124.85 in April of 2026. This page includes a chart with historical data for Urals Crude. Urals Oil - data, forecasts, historical chart - was last updated on July 2 of 2026.

Urals Oil fell to 56.19 USD/Bbl on July 1, 2026, down 4.67% from the previous day. Over the past month, Urals Oil's price has fallen 35.37%, and is down 11.60% 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 66.66 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 73.93 in 12 months time.



Price Day Month Year Date
Crude Oil 67.92 -0.659 -0.96% -29.26% 1.63% Jul/02
Brent 70.98 -0.586 -0.82% -27.43% 3.41% Jul/02
Natural gas 3.18 -0.0366 -1.14% -0.95% -7.62% Jul/02
Gasoline 2.88 -0.0629 -2.14% -7.96% 35.96% Jul/02
Heating Oil 3.19 -0.0276 -0.86% -17.09% 34.81% Jul/02
Coal 129.60 -0.05 -0.04% -8.28% 15.20% Jul/01
EU Gas 43.93 0.91 2.12% -10.11% 30.29% Jul/02
UK Gas 103.76 2.0688 2.03% -11.99% 30.11% Jul/02
Ethanol 1.88 0.0050 0.27% -4.81% 8.67% Jul/01
Naphtha 613.74 -3.00 -0.49% -19.04% 11.30% Jul/01
Propane 0.70 -0.01 -1.05% -16.18% -3.46% Jul/02
Uranium 86.05 0.5500 0.64% -0.23% 10.60% Jul/01
Methanol 2,370.00 -12.00 -0.50% -23.75% -1.99% Jul/02


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. The data is supplied by a third party and, while efforts are made to ensure its accuracy, Trading Economics does not verify the data and makes no representations or warranties regarding its accuracy..
Actual Previous Highest Lowest Dates Unit Frequency
56.19 58.94 124.85 8.40 2012 - 2026 USD/Bbl daily

News Stream
Urals Oil Falls to 4-Month Low
Russian Urals crude fell below $60 per barrel, marking a four month low as global benchmarks declined following an agreement between the US and Iran to halt mutual attacks. This temporary truce allows safer maritime navigation, accelerating oil shipments through the critical Strait of Hormuz. Although this de-escalation hints at a lasting peace deal to fully reopen a channel that previously handled 20% of global crude and liquefied natural gas, wary shipowners face ongoing bottlenecks, leaving hundreds of vessels still stranded in the Persian Gulf. Meanwhile, structural domestic issues emerged as Russian President Vladimir Putin acknowledged internal fuel shortages and widespread gas station lines. To counter this tight domestic supply, officials are considering a complete prohibition on diesel exports.
2026-06-29
Urals Oil Falls to Over 3-Month Low
Russian Urals crude fell to below $65 per barrel, the lowest in over three months, tracking international benchmark prices as markets priced in expectations that a US-Iran deal could reopen the Strait of Hormuz and unleash additional supply. Brent and WTI crude prices dropped as traders anticipated the return of Iranian exports and easing pressure on global inventories. The possible interim agreement, expected to allow Tehran to resume oil sales, has already prompted tanker repositioning ahead of a gradual reopening of the strategic waterway. Analysts expect flows to recover slowly due to security concerns and operational limits. At the same time, Russia is shipping near-record crude volumes as Ukrainian strikes on refineries push more barrels into export markets. Russian shipments averaged 3.83 million barrels a day in the four weeks to June 14, the highest pace this year.
2026-06-17
Urals Oil Supported by Hormuz Closure
Russian Urals crude traded around $100 per barrel, moving closer to international benchmark prices as the closure of the Strait of Hormuz tightened global oil supply. Additional support came from a temporary US sanctions waiver allowing international buyers to receive Russian cargoes in an effort to stabilize energy markets. Although Ukrainian drone strikes continued targeting Russian refineries and Baltic ports, Moscow partly offset the disruption through stronger pipeline exports, including resumed Druzhba flows to Hungary and Slovakia. Russia’s oil export revenues continued to climb despite lower production levels, helped by elevated global oil prices and supply disruptions linked to the Iran conflict. According to the IEA, Russia earned $19.18 billion from oil exports in April, up $6.28 billion from a year earlier, even as oil output fell by 460,000 barrels per day to 8.8 million bpd and exports declined to 7.03 million bpd.
2026-05-14