Russian Urals Oil Surges Past $120, Outpaces Brent
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Insights by Echo AI
Russian Urals oil has surged to over $120 per barrel, surpassing Brent crude and reaching its highest level since April. This increase, by more than 30% over the past month, is driven by escalations in the Middle East, strong demand, and supply disruptions. Refiners are turning to alternative crude oil sources like Urals. The price of Urals oil forecast for Russia's 2026 budget is $59 per barrel.
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