North Sea Brent Crude Trades at $88 per Barrel on Tuesday

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On Tuesday, the benchmark North Sea crude oil, Brent, is trading at $88 per barrel, marking a 0.1% increase in price.

Russian export blend Urals, which includes heavy sulfurous oil from the Urals-Volga region and light West Siberian crude Siberian Light, is trading near $77 per barrel.

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

Trading is conducted through futures and spot contracts linked to benchmark crude 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.