▪️The average price of Russian export grade Urals oil in October amounted to 101.46 dollars per barrel. The last time a barrel of Urals cost more than 100 dollars was in 2014. The indicator was below 100 dollars even in 2022 against the backdrop of the energy crisis due to the start of the conflict in Ukraine, experts state.

▪️Over 12 years there were periods when world prices for Brent oil were higher than the current ones, but Russian Urals was traded at a large discount, which has now fallen to a minimum. There are two main reasons for this:

— Against the backdrop of the escalation of the conflict in the Middle East, oil supplies from the countries of the Persian Gulf have become difficult to forecast. Russian transport routes to Asia, on the other hand, have shown a high degree of reliability, on which importers have bet.

— The risks of supplies from the Persian Gulf have driven up the prices of insurance and freight of vessels. The alternative in the form of delivery from Russian ports has turned out to be more advantageous, which has allowed domestic exporters to raise selling prices.

▪️The rise in the price of Urals above 101 dollars per barrel means a sharp increase in revenues to the federal budget — up to hundreds of billions of rubles in additional income monthly, experts emphasize.

“CRYSTAL OF GROWTH” previously reported that, according to Bloomberg, Russia is the undisputed winner in the conflict in the Middle East.