Brent crude oil trades near $92 per barrel on Wednesday

© ООО Региональные новости

Brent crude oil, the benchmark grade extracted from the North Sea, is trading at around $92 per barrel on Wednesday, marking a 0.2% increase in value.

Russian Urals crude, which includes heavy sour oil from the Urals-Volga region and light West Siberian Siberian Light oil, is trading (futures contracts) at $82 per barrel.

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

Trading is conducted through futures and spot contracts linked to benchmark grades: American WTI, European Brent, and Asian Dubai/Oman, shaping 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.