Crude Oil Prices

Daily closing prices (US$/Barrel)

Date Urals * Brent WTI
Oct 10 79.91 83.09 73.17
Oct 11 77.75 80.26 70.97
Oct 12 76.54 80.43 71.34
Oct 15 78.60 80.78 71.78
Oct 16 79.02 81.41 71.92
Oct 17 77.41 80.05 69.75
Oct 18 76.69 79.29 68.65

* the price is based on the Urals/Brent differential

Barrel (bbl) is a unit of volume for crude oil and petroleum products. 1 bbl corresponds 42 US gallons or 35 UK (imperial) gallons, or approximately 159 liters.

Urals Crude Oil – export oil mix (a mix of heavy and high-grade oil of Urals with light oil of Western Siberia), extracted in Khanty-Mansiysk autonomous region, Bashkortostan and Tatarstan. Urals brand oil is supplied through the Druzhba pipeline and the Baku-Novorossiysk pipeline. The world’s largest Urals crude oil producers are “Rosneft”, “Lukoil”, “Surgutneftegas”, “Gazprom Neft” and “Tatneft”. Urals Crude futures are traded on the Saint Petersburg International Mercantile Exchange (SPIMEX) under ticker symbol “U” in U.S. dollars.

Brent Crude futures are traded on the Intercontinental Exchange (ICE) under ticker symbol B in U.S. dollars. Brent –°rude futures are also traded on the New York Mercantile Exchange (NYMEX) with the symbol “BZ”. Brent blend is a light crude oil (LCO) which contains approximately 0.37% of sulphur, however, not sweet as West Texas Intermediate (WTI). WTI futures is traded on the NYMEX under ticker symbol “CL”.