The State Duma announced comfortable oil prices for the budget

The oil market started the week with high prices: Brent quotes remain near $95 per barrel after a volatile week during which the price rose above $ 100. The current market conditions are creating a steady supply shortage and maintaining high price levels. Alexey Govyrin, a State Duma deputy and member of the State Duma Committee on Small and Medium-sized Enterprises (United Russia faction), told Izvestia on May 25.

"The past week for Brent was in the range of $94.22–99.59 per barrel, and Friday's close was fixed at $100.21. On Monday, the market opened around $95, while spot quotes, according to S&P Global, remain above the psychological mark of $100," he explained.

The structural shortage of supply provides additional support to prices. The International Energy Agency (IEA) expects global supplies to decrease by an average of 3.9 million barrels per day in 2026, to the level of 102.2 million barrels. This increases the long-term pressure on the market balance.

Oil of the time: the price of Urals has increased by 150 since the beginning of the Middle East conflict%

How will an increase in Russian fuel quotations affect the country's budget

The parliamentarian noted that the forecasts of the largest organizations are also shifting towards higher prices. BMI analysts raised the benchmark for Brent to $90 per barrel, and the European Commission revised its forecast to $91.2 against the previously expected $62.4, while setting a level of about $109 in the second quarter.

The situation around the Strait of Hormuz remains a significant uncertainty factor. According to the head of ADNOC, a full restoration of supplies through the strategic route is possible no earlier than 2027, which limits supply on the global market.

Further growth of quotations is also allowed. The base benchmark for the current week, according to Govyrin, is $95-110 per barrel. He noted that current prices remain comfortable for the Russian economy: at this level, the Brent Urals grade ensures stable budget revenues and exceeds planned revenue parameters.

On the same day, it was reported that world oil prices were declining during trading amid uncertainty surrounding the negotiations between the United States and Iran to resolve the conflict. As of 09:00 Moscow time, the price of August futures for Brent crude oil decreased by 3.2% to $95 per barrel. July futures for WTI crude oil fell by 5.26% to $91.52 per barrel.