Crude Oil Futures Traded at $63 per Barrel

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Oil futures trade at $63 per barrel.

Benchmark (marker) oil from the North Sea, Brent, is quoted at $62.70 per barrel on Wednesday, with a 0.3% increase in value.

Russian export-grade oil, URALS, which includes heavy sour oil from the Uralo-Povolzhye region and light Western Siberian SIBERIAN LIGHT oil, is traded (futures contracts) at $54.50 per barrel.

The difference in price between these oil grades has narrowed to a range of $4-7 per barrel.

Reviewed by Yulia Grishchenko, a member of the listing expert council of the Moscow Exchange, PhD in Economics, head of the Financial and Investment Management Department at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.