Oil trades at $62 per barrel

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Oil is trading at $62 per barrel.

On Monday, the price of BRENT crude oil, the benchmark North Sea grade, stands at $62.30 per barrel, with a daily decline in black gold reaching 0.4%.

Russian export 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 $52.80 per barrel.

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

This overview was presented by Yulia Grishchenko, a member of the Expert Council on Listing of the Moscow Exchange, Ph.D. in Economics, and 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.