OREANDA-NEWS  Against the background of the conflict between Iran and Israel, during which threats were made to close the Strait of Hormuz, the cost of the main Russian export grade of Urals oil in the ports of the Baltic and Black Seas exceeded $ 68 per barrel for the first time since January. This is reported by RBC with reference to data from the Argus international pricing agency.

This price level was recorded on June 19, and the very next day the price of Urals in Primorsk and Novorossiysk dropped to $ 65.

The premium ESPO brand with supplies through the Far East rose in price to $ 70 per barrel on the same day. On Friday, June 20, it reached a maximum of $70.32. According to the agency's estimates, Russian oil has been trading above the price ceiling ($60 per barrel) since June 9 and 13 for ESPO and Urals grades, respectively.

Earlier it was reported that against the background of the US strikes on Iran, world oil prices soared to $ 80 per barrel, but after the head of the White House, Donald Trump, announced that the fighting was over, the cost of raw materials collapsed to $ 68 (for Brent).

Earlier, the Ministry of Finance reported an accelerating decline in oil and gas budget revenues. In the first five months of 2025, they amounted to 4.24 trillion rubles, which is 14.4 percent less than last year's volume for the same period. In January-April, the drop was estimated at 10.3 percent.