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- Why are Russian Urals crude oil prices falling?
- Russian Urals crude oil prices continued their decline, falling to $65.5 per barrel, the lowest level since late October, tracking weak global oil prices amid tariff uncertainties and slowing economic growth.
- What is Russia's Crude oil price cap?
- In early February 2023, a price cap of 100 U.S. dollars per barrel was imposed on Russian refined oil products. China was Russia’s leading crude oil export destination, with the value of exports measured at nearly 35.4 billion U.S. dollars in 2021.
- When was crude oil Last updated in Russia?
- The crude oil was last updated on 07-Mar-2025 17:58:00 (GMT Time), other fuel, etc. information is listed in the following table , while the currency was updated on 2025-03-09 13:05:18 (GMT Time) . Welcome to the Petroleum (Gasoline oil, Diesel, Petrol, Crude Oil, LPG, Electricity) prices in Russia per Litre, Barrel, and Gallon..
- Where are Urals oil prices traded?
- 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.
- Why are Russian oil tankers struggling to deliver shipments?
- While tankers continue to load Russian crude, many are struggling to deliver shipments as buyers avoid supply chains affected by US sanctions. 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.
- Can Russia sell oil at a higher price?
- With the cap in place, Russia cannot sell oil at a higher price even to third countries if the oil tankers are financed or insured by members of the Price Cap Coalition. In early February 2023, a price cap of 100 U.S. dollars per barrel was imposed on Russian refined oil products.
