North Sea Brent crude trades at $93 per barrel on Tuesday

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On Tuesday, the benchmark North Sea crude oil blend, Brent, is trading at $93 per barrel, marking a decline of 1.8%.

Russian export blend Urals, which includes heavy sour crude from the Urals-Volga region and light West Siberian crude Siberian Light, is trading near $84 per barrel.

The price discount between Brent and Urals 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 crude grades: American WTI, European Brent, and Asian Dubai/Oman, shaping the global pricing landscape.

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