Brent Crude Hovers Around $100 per Barrel on Wednesday

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Brent crude oil, the benchmark North Sea crude, is trading at around $100 per barrel on Wednesday, marking a 4% drop in value.

Russian Urals crude, a blend of heavy sour oil from the Urals-Volga region and light West Siberian Siberian Light crude, is trading (futures contracts) at around $94 per barrel.

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

Major trading platforms include international commodity exchanges such as NYMEX (WTI, USA) and ICE (Brent, Europe), as well as regional exchanges like SPbMICE (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 together form the global pricing landscape.

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