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Oil is trading at $60 per barrel.
On Monday, the price of BRENT crude oil, the North Sea benchmark grade, stands at $60.24 per barrel, with the decline in the value of black gold reaching 1% over the day.
Russian export oil URALS, which is a blend of heavy high-sulfur oil from the Urals-Volga region and light Western Siberian oil SIBERIAN LIGHT, is valued at $48.56 per barrel.
The discount in price between these grades, BRENT and URALS, is $8-15 per barrel.
The main trading platforms for oil are international commodity exchanges such as NYMEX (WTI, USA) and ICE (Brent, Europe), as well as regional exchanges like SPbMICE (Urals, Russia) and SGX (Asia).
Trading is conducted through futures and spot contracts tied to benchmark crude oil grades: American WTI, European Brent, and Asian Dubai/Oman, which forms the global pricing space.
This overview was 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.
