Weekly Close: Oil Trades at $68 per Barrel

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Weekend Close: Oil Trades at $68 per Barrel

Brent crude oil (the benchmark North Sea oil) is trading on Friday at $67.43 per barrel, with prices down by 0.2%.

Russian Urals blend (a mixture of heavy Urals-Volga and light West Siberian Siberian Light oil) is valued at $55.56 per barrel.

The price discount between Brent and Urals grades is between $8 and $15 per barrel.

The main trading venues for oil are international commodity exchanges such as NYMEX (WTI, USA) and ICE (Brent, Europe), as well as regional exchanges like SPIMES (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, which shapes the global pricing landscape.

This analysis was presented by Aleksey Grishchenko, Ph.D., Professor of Operational and Sectoral Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.