Urals Oil Price

Urals Oil Price

Daily closing prices of crude oil (US$ per Barrel)

Date Urals * Brent WTI
March 24, 2017 48.27 50.80 47.97
March 27, 2017 48.08 50.75 47.73
March 28, 2017 48.54 51.33 48.37
March 29, 2017 49.51 52.42 49.51
* the price is based on the Urals/Brent differential

Urals crude oil futures (SPIMEX, Russia)

Date Urals ** Urals ***
March 24, 2017 46.96 46.98
March 27, 2017 46.40 46.45
March 28, 2017 47.22 47.36
March 29, 2017 48.01 48.28
** the settlement price for the Urals Crude Futures contract (May 2017, FOB Primorsk)
*** the settlement price for the Urals Crude Futures contract (June 2017, FOB Primorsk)

Barrel (bbl) – 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 Baku-Novorossiysk pipeline and the Druzhba pipeline system. The world’s largest Urals crude oil producers are “Rosneft”, “Lukoil”, “Surgutneftegaz”, “Gazprom Neft”, “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.