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Russian Urals oil prices fell to the lowest level since 2023 as Brent price collapsed

Russian Urals oil prices fell to the lowest levels since 2023 as international benchmark Brent prices collapsed amid escalating trade tensions between the U.S. and China following the tariffs policy announced last week, Reuters calculations based on traders' data showed. Weaker Urals prices will weigh on Russia's oil revenues - a core basis for Moscow's budget. A fall in oil and gas revenues comes at a time of tough negotiations between Russia and the United States about the ceasefire in Ukraine.

Russian Urals oil prices fell to the lowest levels since 2023 as international benchmark Brent prices collapsed amid escalating trade tensions between the U.S. and China following the tariffs policy announced last week, Reuters calculations based on traders' data showed.

Weaker Urals prices will weigh on Russia's oil revenues - a core basis for Moscow's budget. A fall in oil and gas revenues comes at a time of tough negotiations between Russia and the United States about the ceasefire in Ukraine..