North Sea Brent Crude Trades at $107 per Barrel on Tuesday

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On Tuesday, the benchmark North Sea crude oil (BRENT) is trading at $107 per barrel, marking a 2% increase in price.

Russian export blend URALS, which includes heavy sulfurous oil from the Urals-Volga region and light West Siberian oil (SIBERIAN LIGHT), is trading close to $99 per barrel.

The price discount between 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 SPbMSTB (Urals, Russia) and SGX (Asia).

Trading is conducted through futures and spot contracts linked to benchmark crude oil grades: American WTI, European Brent, and Asian Dubai/Oman, which forms the global pricing landscape.

This overview was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.