world-economy

Russian Oil Exports Climb as Urals Blend Reaches Highest Price Since October 2023

Russia's crude oil export values have climbed to their highest levels since the Ukraine conflict began. Urals blend pricing reached peaks not seen since October 2023, reflecting tightening global energy markets following the Iran war. This price spike delivers substantial fiscal benefits to Moscow. Global energy prices remain elevated across markets. New Zealand and Nigeria are experiencing elevated fuel costs that push broader price pressures higher, according to recent inflation data.