Brent Crude Hovers Around $107 per Barrel on Wednesday

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Brent crude oil, the North Sea benchmark grade, is trading at around $107 per barrel on Wednesday, marking a 1% increase in value.

Russian Urals crude, which includes heavy sour oil from the Urals-Volga region and light West Siberian Siberian Light grade, is trading (futures contracts) at $117 per barrel.

The price difference between Brent and Urals crude is currently $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 SPIMEx (Urals, Russia) and SGX (Asia).

Trading is conducted through futures and spot contracts linked to benchmark grades such as American WTI, European Brent, and Asian Dubai/Oman, forming a global pricing framework.

This overview was presented by Alexei 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.