Varieties of oil
WTI, Brent, and Dubai oil prices are used to form prices for all the others, where the price of Urals - Ural oil from Russia is based on the price of Brent.
Prices of different grades differ due to the properties of oil.
Today Thursday, 26 Nov, 2020 y
(the pricen oil "Ural" - Urals is based on the price of Brent oil *)
Brent oil prices, MICEX and RTS index - General dynamics of the Russian economy.
WTI, Brent, and Dubai oil prices are used to form prices for all the others, where the price of Urals - Ural oil from Russia is based on the price of Brent.
Prices of different grades differ due to the properties of oil.
Urals - a mixture of heavy oil with light It is produced in the Khanty-Mansi Autonomous area, Bashkortostan and Tatarstan and is exported to Europe. Urals oil producers are Rosneft, LUKOIL, Gazprom Neft and Tatneft. Urals oil is traded on the Russian stock exchange. On the new York stock exchange, the NYMEX "Ural" was almost not traded and the exchange stopped working with it.
in Europe, Brent oil is traded mostly - a mixture of crude oil from several oil Fields in the North sea.
Brent is a classification of sweet light oil and serves as a price guide for oil purchases around the world. It is called light because of its low density and sweet because of its low sulfur content and it is used to determine the international trade price of crude oil supplies.
There is more "easy" - West Texas Intermediate (WTI). Brent contains approximately 0.37% sulfur, which is slightly more than in WTI.
Brent is used for the production of gasoline and diesel fuel and is traded on the international oil exchange in London and other exchanges. One contract is 1000 barrels, in US dollars.
This oil was produced at the Brent oil field, which belongs to the UK, from which the name of the oil comes, is traded very actively and is in great demand.
WTI (Light) - light oil and is suitable for the production of gasoline and fuel, is in demand in the United States and this grade is considered a high-class oil. There is a heavier and contains more sulfur grade OPEC Basket. WTI was originally a dollar more expensive than Brent and OPEC Basket and is produced in Canada and North America.
The United Arab Emirates produces Dubai Crude oil and Oman crude oil.
