Brent crude trades at $110 per barrel on Tuesday

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On Tuesday, the benchmark North Sea crude oil grade Brent is trading at $110 per barrel, marking a 1% increase in price.

Russian export blend Urals, which includes heavy sour crude from the Urals-Volga region and light West Siberian Siberian Light crude, is trading close to $120 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 SPIMEx (Urals, Russia) and SGX (Asia).

Trading takes place through futures and spot contracts linked to benchmark grades of oil: American WTI, European Brent, and Asian Dubai/Oman, which form 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 "Higher School of Management" Faculty at the Financial University under the Government of the Russian Federation.