"On the Situation in the World Oil Market"

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Oil is trading at $62 per barrel.

On Tuesday, the benchmark (marker) oil type from the North Sea, Brent, is trading at $62.11 per barrel, with a drop in value of about 0.1%.

Russian export oil blend URALS, which includes heavy sour oil from the Uralo-Povolzhye region and light Western Siberian oil SIBERIAN LIGHT, is trading near $52.88 per barrel.

The difference in price between these oil types has narrowed to a range of $5-10 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.