🛢 Urals Oil
Urals oil, also formerly known as REBCO, is a mix of heavy and high-grade oil of the Urals and the Volga region with light oil of Western Siberia. It’s an oil brand used as a basis for pricing of the Russian export oil mixture. Urals oil extracted in Khanty-Mansiysk autonomous region, Tatarstan and Bashkortostan. Urals brand oil is supplied through the Druzhba pipeline and the Baku-Novorossiysk pipeline. The world's largest Urals oil producers are Rosneft, Lukoil, Surgutneftegas, Gazprom Neft and Tatneft. Urals Crude Oil futures are traded on the Moscow Exchange.
Since the beginning of the Russian-Ukrainian conflict in February 2022, the price of Urals has fallen to $18-20 below the price of Brent.
Brent Crude futures are traded on the Intercontinental Exchange (ICE) under ticker symbol B in U.S. dollars. Brent Сrude 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 are traded on the NYMEX under the ticker symbol "CL".