Oil trades at $64 per barrel

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Oil is trading at $64 per barrel.

Brent crude oil, extracted from the North Sea, is trading on Thursday around $64.20 per barrel, with a price drop of 3.4%.

Since 2007, the benchmark Brent crude has been a blend of several grades of oil extracted from offshore fields such as Brent, Forties, Oseberg, and Ekofisk between the coasts of Norway and the UK.

The discount in price between these grades of Brent and Urals crude 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 SPIMEx (Urals, Russia) and SGX (Asia).

Trading is conducted through futures and spot contracts linked to benchmark crude grades: American WTI, European Brent, and Asian Dubai/Oman, which form the global pricing landscape.

This overview was presented by Yulia Grishchenko, a member of the Expert Council on Listing at the Moscow Exchange, Ph.D. in Economics, and 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.