Brent crude trades near $106 per barrel on Wednesday

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On Wednesday, the benchmark North Sea crude oil grade BRENT is trading at around $106 per barrel, marking a 0.5% increase in value.

Russian export-grade crude oil URALS, which comprises heavy sulfurous oil from the Urals-Volga region and light Western Siberian oil known as SIBERIAN LIGHT, is trading (futures contracts) at $118 per barrel.

The price discount between these grades, BRENT and URALS, 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, shaping the global pricing landscape.

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.