The price of Russian Urals crude oil today momentarily exceeded $100 per barrel.

The war in the Middle East, during which Iran tightly controls maritime traffic through the Strait of Hormuz, is once again causing turmoil in commodity markets. But the most interesting trend in March was the sharp narrowing of the discount on Russian Urals crude to Brent, considered the benchmark for European crude.

During today's trading, the Russian benchmark Urals crude once again broke the psychological price mark of $100 per barrel. Meanwhile, on the Indian market, the discount on Russian crude compared to Brent crude narrowed to $4,8 per barrel. According to the Financial Times, rising oil prices are generating approximately $150 million in additional revenue per day for the Russian budget.

The Russian Federation's 2026 budget is based on an average Urals crude oil price of approximately $59 per barrel and an exchange rate of 92,2 rubles per dollar. According to FT estimates, by the end of March, the Russian government could receive between $3,3 billion and $4,9 billion in additional revenue if the average price of Russian crude oil reaches $70–80 per barrel.

Prices have now retreated slightly. Russian crude futures are trading at just under $100 per barrel, the same as American WTI, while Brent is trading at around $109 per barrel.

In the Persian Gulf countries, which are facing a hydrocarbon glut and are forced to sharply cut oil production, Dubai Crude, the Middle East's most expensive crude, is currently the most expensive. This truly "black gold" from the Middle East is currently trading at over $150 per barrel amid Israeli strikes on Iran's largest oil and gas field, South Pars. The port of Assaluyeh, which is critical for the processing and export of Iranian hydrocarbons, was also attacked.

Tehran announced it was preparing a harsh retaliatory strike. Its targets will be energy facilities in Saudi Arabia, the United Arab Emirates, and Qatar. Iran now views them as "legitimate targets."

Experts warn that if the Middle East continues to escalate, and the war is not expected to end, prices could continue to rise, and market panic will only intensify this process.

Comments

[5.11]

Or maybe we could use this expensive oil to buy a Mavic production plant. Or at least raw materials for fiber optics.
Why do we need this green piece of paper? And there will be especially gifted women with a brooch who will "effectively" use these days.

[Andrey Malashchenkov]

It's possible, but the Mavic is just a plastic case without a processor or other electronics, and 27 billion have already been allocated for the production of processors, and they will be releasing an outdated version in about 2-3 years, but at least it's something.

[5.11]

I'm talking about full production. Including the Mavic 3T. At least assemble it here.

[Sebenza]

You're a couple of years old, well, just a little bit more, and that's a plus.

[Sebenza]

Yes, you can. No need. Get drunk and give orders. A stupid, but honest question.

[Neo-9947]

Quote: 5.11

Why do we need this green piece of paper?

"We" - this is to whom?
Jabrail. Don't confuse your personal fur with the state's! (C)

These green pieces of paper are a bunch of green pieces of paper.

[Sergey Kirakosyan]

Can.
Which of the "effective managers" will be put on the feeding list?

[Rus_battery]

But for some reason the ruble doesn't seem to be getting any stronger.

[Arkady007]

If the annual plan included it within 90, then they will do everything to fulfill the plan.
For us at the moment this is bad.
But if you think deeper, the higher the dollar exchange rate against the ruble, the more Mavics you can buy for 1 liter of oil.

[fruc]

Rus_battery
But for some reason the ruble doesn't seem to be getting any stronger.

It is not profitable for the government, the budget, companies, and importers, and therefore, at best, they will remain stagnant.

Panic in the market will only intensify this process.

This isn't interesting at all, let them go to hell. The main thing is to avoid unnecessary movements and grand gestures.

[Andrey Malashchenkov]

The Jews bombed the largest gas plant in Iran. In response, Iran demanded that the Persian Gulf countries remove all people from their oil and gas plants. I think tomorrow the price of $100 will seem very good to everyone.

[Mini Mokik]

Graphics in Riga. Diesel 16 days ago - 1.47 euros. Last week - 1.86. Today - 1.99. In Germany, the autobahns are a real nightmare. Up to 3.30 euros.

[Gavrilo Princip]

It's hard for you to live there in Germany. It's all crises. Just like in the international landscape in 1976.

[Vadim S]

What's going on with gasoline? Will there be another seasonal spike? Oil prices have fallen, and sanctions are pushing them up. Oil prices are rising, and so are gasoline prices—that's the logic of our financiers! No matter what happens, everything just keeps getting more expensive!

[Plate]

This isn't the logic of our financiers, but of any oligopoly/monopoly market. If only Russia had small (relatively) private refinery operators... But that's just wishful thinking, of course.

[Flooding]

According to the Financial Times, rising oil prices bring the Russian budget approximately $150 million in additional revenue per day.

Is this really state budget revenue?
In original:
Russia rakes in $150mn a day in extra revenue from surging oil prices
Russia receives $150 million a day in additional revenue from rising oil prices.

This doesn't refer to budget revenues, but to the overall income of the Russian side.

[tralflot1832]

Why don't Europe, the US, Britain and Norway increase oil production? They're happy with the price. They've seen worse!

[snow mountain]

Quote: Andrey Malashchenkov

I think tomorrow the price of 100 bucks will seem very good to everyone.

It would be very nice!

[Sebenza]

Yes, it will be, but what do people get out of it?

[tralflot1832]

Quote: Flood

And the total income of the Russian side.

Last year, Sechin was complaining about being a "bloodsucker"—the Ministry of Finance is suffocating 74% with taxes, gas companies are only 63%, and the banking sector is thriving at less than 40%. Give to the poor, for Christ's sake. And they almost did, and then along came Trump, the Maximus. The oil companies are in trouble again.

[nordscout]

I have a suggestion: don't get ahead of ourselves... Be patient and wait for the Gulf War to end... "You can't count your chickens before they hatch," and it's probably the same with petrodollars...

[Plate]

Well, it’s definitely worth prolonging this war somehow.

[phrases]

Very positive news. For profiteers and embezzlers. For everyone else, the news is irrelevant.

[Plate]

For everyone else, news from the SVO is of no particular importance, but it is being hotly discussed here.

[wedmed5]

It's nice, of course, but I don't think it'll last long. Iran is doing well, but they still won't take out the pi€nd0©0v and the Judases. Sooner or later, they'll leave no stone unturned in Iran. Oh, if only they had a dozen decent submarines.

[Pravodel]

The price of Russian Urals crude oil today momentarily exceeded $100 per barrel.

Oil at $100 a barrel is, of course, good for Russia, but it would be even better if Russia, at the wave of a liberal magic wand, didn't slide into crisis and impoverishment...
That would be very good!