Brent crude trades at $83 per barrel on Tuesday

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On Tuesday, the benchmark North Sea crude oil grade BRENT is trading at $83 per barrel, marking a 1% decline in value.

Meanwhile, the Russian export blend URALS, which combines heavy sulfurous oil from the Urals-Volga region and light Western Siberian crude SIBERIAN LIGHT, is trading close to $67 per barrel.

The price discount between BRENT and URALS grades ranges from $8 to $15 per barrel.

Major trading platforms for crude oil include international commodity exchanges such as NYMEX (WTI, USA) and ICE (Brent, Europe), as well as regional exchanges like SPbMICE (Urals, Russia) and SGX (Asia).

Trading is conducted through futures and spot contracts linked to benchmark crude grades, including American WTI, European Brent, and Asian Dubai/Oman, shaping the global pricing landscape.

This overview was presented by Alexei 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.