Brent Crude Hovers Around $110 per Barrel on Wednesday

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On Wednesday, the benchmark North Sea crude oil, Brent, is trading around $110 per barrel, marking a decline of 1.2% in value.

Russian export-grade Urals crude, which consists of heavy sour oil from the Urals-Volga region and light Siberian Light oil from Western Siberia, is being traded (futures contracts) at $99 per barrel.

The price discount between Brent and Urals 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 SPBMEX (Urals, Russia) and SGX (Asia).

Trading takes place through futures and spot contracts linked to benchmark crudes: American WTI, European Brent, and Asian Dubai/Oman, creating a 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" at the Financial University under the Government of the Russian Federation.