Brent Crude Oil Hits $103.13 per Barrel on Monday

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On Monday, the price of the North Sea benchmark crude oil BRENT stands at $103.13 per barrel, marking a 0.1% increase in the cost of black gold over the day.

Russian export crude URALS, a blend of heavy high-sulfur oil from the Urals-Volga region and light Western Siberian oil SIBERIAN LIGHT, is valued at $91 per barrel.

The price discount between these two grades, BRENT and URALS, ranges from $8 to $15 per barrel.

Major trading platforms for crude oil include 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 tied to benchmark crude grades: American WTI, European Brent, and Asian Dubai/Oman, which shape the 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.