Brent Crude Oil Hits $115 per Barrel on Monday

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On Monday, the price of Brent crude oil, the North Sea benchmark grade, reached $115 per barrel, marking a 2% increase in the cost of black gold over the day.

Russian export-grade Urals crude, a blend of heavy, high-sulfur oil from the Urals-Volga region and light West Siberian Siberian Light oil, is valued at $109 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 takes place through futures and spot contracts tied to benchmark crude grades: American WTI, European Brent, and Asian Dubai/Oman, shaping the global pricing landscape.

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