Finally, Russia has one more reason to be proud of apart from the adoption of amendments to the Constitution. For the first time, Russian oil got more expensive than Brent Crude. At the end of last month, the price of Urals, Russian brand oil, in Europe reached a record-breaking premium of $2.35 per barrel to the North Sea Brent benchmark. It was a sudden jump in the price of Russian oil. Thus, during one trading session, Urals went up by $0.92 to $43.25 per barrel. At the start of a new trading day, Russian crude oil rose by $0.4 per barrel compared to the North Sea Brent crude - to $2.35 per barrel (CIF Rotterdam). Interestingly, Urals has always been cheaper than Brent for a few dollars, but more expensive than West Texas Intermediate (WTI), the American standard benchmark crude oil. The situation has changed after Russia lost the oil price war with Saudi Arabia. However, the stock market statistics shows that this defeat has turned into a price hike. A sharp increase in demand has been the main reason for a rise in the cost of Russian oil after Russia cut its exports as part of the OPEC+ agreement. In July, Urals shipments are expected to decrease by more than 40 percent.