Brent crude trades near $99 per barrel on Wednesday

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On Wednesday, the North Sea benchmark crude oil BRENT is trading around $99 per barrel, marking a 0.1% decline in value.

Russian export-grade crude oil URALS, which includes heavy sour crude from the Urals-Volga region and light West Siberian crude SIBERIAN LIGHT, is trading (futures contracts) at $100 per barrel.

The price differential between BRENT and URALS stands at $8-15 per barrel.

Major trading platforms for crude 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 is conducted through futures and spot contracts linked to benchmark crude grades: American WTI, European Brent, and Asian Dubai/Oman, shaping 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.