Russia's Urals crude jumped 18.76 percent in a day to 85 dollars, and Moscow's oil shares rose with it

Russia's Urals crude reached 85.39 dollars a barrel on Wednesday, 29 July 2026, up 18.76 percent from the previous day. According to Trading Economics data, Urals has risen 46.14 percent over the past month and is up 27.52 percent compared with the same period last year. The grade's record high of 124.85 dollars was set in April 2026.

A single day move of this size is unusual. Moscow Exchange data for the same day is consistent with it: the MOEX index rose 2.10 percent to 2,237 points, with oil company shares leading the way as Rosneft gained 4.84 percent, Novatek 3.44 percent, Tatneft 3.42 percent and Lukoil 2.61 percent. Sahmino reports the precise 18.76 percent figure as attributed to that data provider and does not independently confirm it.

A narrowing discount on Russian crude matters directly to Iran. Urals barrels and discounted Iranian barrels both go mainly to Chinese refiners and compete with one another, so a more expensive Urals eases the competitive pressure on the pricing of Iran's exports. Despite the gain, the MOEX index remains 4.73 percent lower over the past month and 17.94 percent lower over the past year.