EnergyReader · 2026-08-08 03:10

Urals Spot Holds Near $76 as Middle East Supply Equation Stays Unsettled

By EnergyReader Newsroom · August 8, 2026

Urals crude spot stood at $76.23 a barrel as of 0305 UTC on 2026-08-08, a discount of roughly $6.15 to ICE Brent front-month at $82.38 and below even Dubai crude at $78.38. The spread has compressed from its widest levels during the conflict peak, but it remains wide enough to signal that sanctions-related financing and shipping friction have not been priced away. Mirae Asset's Mohammed Imran said on 31 July 2026 (2026-07-31) that oil had retreated yet risk was skewed northward, with ICE Brent expected to average around $80 if the Middle East conflict did not prolong.

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