Oil Trades at $66 per Barrel

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Oil Trades at $66 per Barrel

On Monday, the price of Brent crude oil, the benchmark North Sea variety, reached $66.34 per barrel, marking a 1% increase over the day.

Russian export-grade Urals crude, a blend of heavy high-sulfur oil from the Urals-Volga region and light Western Siberian Siberian Light oil, was valued at $56.21 per barrel.

The price differential between Brent and Urals grades typically 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 SPbMICE (Urals, Russia) and SGX (Asia).

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

This analysis was presented by Yulia Grishchenko, a member of the Expert Council on Listing at 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.