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Oil is trading at $60 per barrel.
Brent crude oil (the benchmark North Sea oil) is trading on Friday at $60 per barrel, with quotes rising by 0.8%.
The Russian URALS blend (a mixture of heavy Urals-Volga and light West Siberian SIBERIAN LIGHT oil) is valued at $58.21 per barrel.
It should be noted that URALS oil typically trades at a discount to BRENT (the difference is usually 4-8 USD per barrel), due to its higher sulfur content, transportation costs, and sanctions-related expenses.
The main buyers of URALS oil are Asian countries.
Trading in URALS takes place on the St. Petersburg International Mercantile Exchange (SPIMEX).
This overview was presented by Yulia Grishchenko, member of the Expert Council for 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.
