Brent Crude Oil Prices Hit $110 per Barrel on Monday

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Brent crude oil, the North Sea benchmark grade, is trading at $110 per barrel on Monday, with the price of black gold rising by 0.5% over the day.

Russian export-grade Urals crude, a blend of heavy high-sulfur oil from the Urals-Volga region and light Western Siberian oil known as Siberian Light, is valued at $107 per barrel.

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

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

This overview was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operations and Industry Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.