Brent crude trades near $85 per barrel on Wednesday

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On Wednesday, the benchmark Brent crude oil, extracted from the North Sea, is trading at around $85 per barrel, marking a 0.4% increase in value.

Russian Urals crude oil, which consists of heavy sour oil from the Urals-Volga region and light West Siberian Siberian Light oil, is trading (futures contracts) at $66 per barrel.

The price discount between Brent and Urals crude stands at $8-15 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 oil grades: American WTI, European Brent, and Asian Dubai/Oman, forming a global pricing framework.

This overview 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.