Russia Oil Export Revenues Hit Highest Since Early Ukraine War as Prices Surge, Despite Ukrainian Port Attacks

Russia’s oil export revenues have climbed to their highest levels since the early months of the Ukraine war, driven by a surge in global crude prices and a partial recovery in shipment volumes, according to tanker-tracking data.

The rebound comes as conflict in the Middle East pushed oil prices to multi-year highs, tightening global supply after disruptions to flows through the Strait of Hormuz. The resulting supply squeeze boosted demand for Russian crude and lifted benchmark prices, increasing the value of Moscow’s exports even as physical shipments remained volatile.

On a four-week average basis, the gross value of Russian crude exports