On the Situation in the Global Oil Market

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Oil is trading at $63 per barrel.

Brent crude oil (the benchmark North Sea oil) is trading on Friday at $63.50 per barrel, with prices falling by 0.2%.

Russian Urals oil (a blend of heavy Urals-Volga and light West Siberian Siberian Light oil) is valued at $55.13 per barrel.

It is worth noting that Urals oil typically trades at a discount to Brent (the difference is usually $4-8 per barrel), due to its higher sulfur content, transportation costs, and sanctions-related expenses.

The main buyers of Urals oil are Asian countries.

Trading of Urals oil takes place on the St. Petersburg International Mercantile Exchange (SPIMEX).

Overview presented by Yulia Grishchenko, member of the Expert Council of the Moscow Exchange Listing Committee, 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.