Oil Futures Trade at $68 per Barrel

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Oil futures are trading at $68 per barrel.

Brent crude, the benchmark North Sea oil grade, is trading at around $89.50 per barrel on Wednesday, marking a 2% increase in value.

Russian Urals crude, which includes heavy sour oil from the Urals-Volga region and light West Siberian Siberian Light oil, is trading at $87 per barrel in futures contracts.

The price discount between Brent and Urals crude 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 SPIMES (Urals, Russia) and SGX (Asia).

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

This overview was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operations and Industry Management of the "Higher School of Management" Faculty at the Financial University under the Government of the Russian Federation.