"On the Situation in the World Oil Market"

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Oil is trading at $63 per barrel.

Brent crude oil (North Sea benchmark) is trading at $63.30 per barrel on Friday, with prices rising by 1%.

Russian Urals crude oil (a blend of heavy Ural and light West Siberian SIBERIAN LIGHT) is valued at $54.60 per barrel.

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

Major buyers of Urals crude oil are Asian countries.

Trading of Urals is conducted on the Saint Petersburg International Mercantile and Commodity Exchange (SPIMEX).

Review provided 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.