Brent Crude Hovers Around $100.22 per Barrel on Wednesday

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Brent crude oil, the benchmark grade extracted from the North Sea, is trading at around $100.22 per barrel on Wednesday, marking a 4% decline in value.

Russian Urals crude, which includes heavy sour oil from the Urals-Volga region and light West Siberian Siberian Light oil, is trading (futures contracts) at $99 per barrel.

The price discount between Brent and Urals crude ranges from $8 to $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 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, forming the global pricing landscape.

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