Brent crude trades near $107 per barrel on Wednesday

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Brent crude oil, the benchmark grade extracted from the North Sea, is trading at around $107 per barrel on Wednesday, marking a 1.2% decline in value.

Russian Urals crude, a blend of heavy sulfurous oil from the Urals-Volga region and light Siberian Light oil from Western Siberia, is being traded (futures contracts) at $97 per barrel.

The price discount between Brent and Urals grades stands at $8-15 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 SPbMSTB (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, which shape the global pricing landscape.

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