Oil trades at $64 per barrel

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Oil is trading at $64 per barrel.

The price of BRENT crude oil, the North Sea benchmark grade, stands at $63.71 per barrel on Monday, with the decline in black gold reaching 1% over the day.

Russian export crude oil URALS, which is a blend of heavy high-sulfur oil from the Urals-Volga region and light Western Siberian oil SIBERIAN LIGHT, is valued at $55.35 per barrel.

The discount in price between these grades, BRENT and URALS, has narrowed to a range of $4-7 per barrel.

The review was presented by Yulia Grishchenko, a member of the Expert Council of the Moscow Exchange Listing Committee, Ph.D. in Economics, Head of the Department of Financial and Investment Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.