Russian Export Blend Crude Oil
In commodity market terminology, Russian Export Blend Crude Oil refers to a medium gravity sour crude oil that is produced in Russia. REBCO is an Urals blend type of crude and generally trades at a discount to prices for other crude oils on the world market.
Russian Export Blend Crude Oil futures trade on the New York Mercantile Exchange and the CME ClearPort electronic trading platform. Contracts are for 1,000 barrels of Urals FOB Primorsk grade crude oil and are quoted in U.S. Dollars with a minimum fluctuation of $0.01 per barrel or $10.00 per contract. Russian Export Blend Crude Oil futures trade under the symbol R2.