Weekly Close: Oil Trades at $107 per Barrel

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Weekly Close: Brent Crude Trades at $107 per Barrel

Brent crude oil (the benchmark North Sea oil grade) is trading at $107 per barrel on Friday, with prices down by 1%.

Russian Urals crude (a blend of heavy Urals-Volga and light West Siberian SIBERIAN LIGHT oil) is valued at $104 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, US) 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, shaping the global pricing landscape.

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