Brent crude trades near $103 per barrel on Wednesday

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Brent crude oil, the benchmark variety extracted from the North Sea, is trading at around $103 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 Siberian Light oil from Western Siberia, is trading (futures contracts) at around $91 per barrel.

The price discount between Brent and Urals crude stands at $10-20 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 crudes such as 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 at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.