Brent crude trades near $92 per barrel on Thursday

© ООО Региональные новости

Brent crude oil, extracted from the North Sea, is trading on Thursday around $92 per barrel, with a price correction of 0.7%.

Since 2007, the benchmark Brent crude has been a blend of several oil grades produced from offshore fields including Brent, Forties, Oseberg, and Ekofisk, located between the coasts of Norway and the UK.

The price difference between these Brent grades and Urals crude typically ranges from $8 to $15 per barrel.

The main trading platforms for oil are 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 takes place through futures and spot contracts linked to benchmark crude grades: American WTI, European Brent, and Asian Dubai/Oman, which together form the global pricing landscape.

This analysis 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.