Russia's Urals oil prices above $80 per barrel

Russia's Urals oil prices above $80 per barrel

Prices of the Russian oil export blend Urals crossed the line of $80 a barrel at night of October 5, for the first time since 2018, the international price agency Argus said.

Urals prices climbed to $80.8 per barrel in Northwestern Europe (CIF Rotterdam) and to $81.35 per barrel in the Mediterranean (CIF Augusta), TASS reported.

According to the Russian Ministry of Finance, Urals oil prices were last time above $80 per barrel from September 15 to October 14, 2018. The Urals base price in the Russian federal budget is set at the level of $43.3 per barrel for 2021.

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