Weekly Close: Oil Trades at $64 per Barrel

14:38; 23 January 2026 year

Brent crude oil (the benchmark North Sea oil) is trading at $64.40 per barrel on Friday, with prices up by 0.5%.

Russian Urals blend (a mixture of heavy Urals-Volga and light West Siberian Siberian Light crude) is valued at $54.50 per barrel.

The price difference between Brent and Urals grades ranges from $8 to $15 per barrel.

Major trading platforms for oil include international commodity exchanges such as NYMEX (WTI, USA) and ICE (Brent, Europe), as well as regional exchanges like SPIMEx (Urals, Russia) and SGX (Asia).

Trading is conducted through futures and spot contracts tied to benchmark crude grades: American WTI, European Brent, and Asian Dubai/Oman, shaping the global pricing landscape.

This analysis was presented by Yulia Grishchenko, Ph.D., member of the Expert Council on Listing at the Moscow Exchange, and Head of the Department of Financial and Investment Management at the Higher School of Management, Financial University under the Government of the Russian Federation.

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