Russia's Oil Windfall Vanishes As Urals Crashes To $42 A Barrel

Russia's Oil Windfall Vanishes As Urals Crashes To $42 A Barrel By Charles Kennedy of OilPrice.com Russian crude oil prices have fallen back to where they were before the Middle East war, with its flagship Urals averaging just $41.66 a barrel during the first three days of July. The drop wipes out the revenue boost Moscow received from the conflict and pressures a federal budget that assumes oil prices of about $59 a barrel.  Urals had averaged more than $59 a barrel every mo...

By Tyler Durden