Brent Crude Trades at $94 per Barrel on Tuesday

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On Tuesday, the benchmark North Sea crude oil blend, Brent, is trading at $94 per barrel, marking a 1.3% decline in value.

Russian export blend Urals, which consists of heavy sour crude from the Urals-Volga region and light West Siberian crude known as Siberian Light, is trading close to $97 per barrel.

The price discount between Brent and Urals grades ranges from $8 to $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 SPBMTSB (Urals, Russia) and SGX (Asia).

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

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