On the Situation in the Global Oil Market

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Oil is trading at $60 per barrel.

Brent crude oil (the benchmark North Sea oil) is trading on Friday at $59.80 per barrel, with quotes rising by 0.1%.

The Russian URALS grade (a blend of heavy Urals-Volga and light West Siberian SIBERIAN LIGHT oil) is valued at $49.80 per barrel.

It is worth noting that URALS grade oil typically trades at a discount to BRENT grade (the difference is usually $5-10 per barrel), due to its higher sulfur content, transportation costs, and sanctions-related expenses.

The main buyers of URALS grade oil are Asian countries.

URALS oil trading takes place on the St. Petersburg International Mercantile Exchange (SPIMEX).

Overview presented by Yulia Grishchenko, member of the Expert Council on 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.