April 01, 2026

Weekly comparison between the Brent and Russia’s Urals crude oil prices from February 2022 through March 2026.

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From July 1, 2025 to February 28, 2026, the Brent price averaged approximately USD 58.5/bbl, compared to the Russian Urals price of about USD 65.8/bbl over the same period, resulting in a price differential of USD 7.3/bbl. Global oil prices increased significantly following the start of the Iranian war. In March 2026, the Urals–Brent differential fluctuated considerably, with Urals trading higher than Brent on certain dates. This indicates that, due to supply limitations and uncertainties related to the Iranian war, oil prices are likely to continue experiencing significant fluctuations.

See Also:
Henry Hub Natural Gas Influences (2021-2030)
Henry Hub Price Forecast to 2035
AECO-NIT Basis and Price Forecast to 2035