Brent Crude Trades at $92.60 per Barrel on Tuesday

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On Tuesday, the North Sea benchmark crude oil grade Brent is trading at $92.60 per barrel, marking a decline of approximately 6%.

Russian export blend Urals, which comprises heavy sulfurous oil from the Urals-Volga region and light West Siberian oil known as Siberian Light, is trading near $77 per barrel.

The price discount between Brent and Urals grades stands at $8-15 per barrel.

Major trading platforms for oil include international commodity exchanges such as NYMEX (WTI, USA) and ICE (Brent, Europe), as well as regional exchanges like SPbMICEX (Urals, Russia) and SGX (Asia).

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

This analysis was provided by Alexey Grishchenko, Ph.D., Professor of Operational and Sectoral Management at the Higher School of Management, Financial University under the Government of the Russian Federation.