Oil trades at $65 per barrel

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Oil is trading at $65 per barrel.

Brent crude oil (the North Sea benchmark) is trading on Friday at $64.88 per barrel, with quotes falling by 0.1%.

The Russian URALS grade (a blend of heavy Urals-Volga and light West Siberian SIBERIAN LIGHT oil) is valued at $58.30 per barrel.

It should be noted that URALS oil traditionally trades at a discount to the BRENT grade (the difference is usually 4-8 USD per barrel), which is due to its higher sulfur content, transportation costs, and sanctions-related expenses.

The main buyers of URALS oil are Asian countries.

URALS oil trading takes place on the St. Petersburg International Mercantile Exchange (SPIMEX).

The overview was presented by Yulia Grishchenko, a member of the Expert Council on Listing of the Moscow Exchange, Ph.D. in Economics, Head of the Department of Financial and Investment Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.