Brent Crude Oil Prices Hit $79.13 per Barrel on Monday

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Brent crude oil, the North Sea benchmark grade, reached $79.13 per barrel on Monday, with the price of black gold rising by 9% in a single day.

Russian export crude Urals, a blend of heavy high-sulfur oil from the Urals-Volga region and light West Siberian oil Siberian Light, is valued at $60 per barrel.

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

The main trading platforms for oil are 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 linked to benchmark grades of oil: American WTI, European Brent, and Asian Dubai/Oman, forming a global pricing landscape.

This overview was presented by Alexey 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.