Brent crude trades at $102.20 per barrel on Tuesday

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On Tuesday, the benchmark North Sea crude oil blend, Brent, is trading at $102.20 per barrel, marking a 2% increase in price.

Russian export blend Urals, which includes heavy sulfurous oil from the Urals-Volga region and light West Siberian oil known as Siberian Light, is trading close to $100 per barrel.

The price discount between Brent and Urals crude ranges from $8 to $15 per barrel.

Major trading platforms for oil include international commodity exchanges such as NYMEX (WTI, US) and ICE (Brent, Europe), as well as regional exchanges like SPIMES (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, forming a global pricing landscape.

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