Brent Crude Oil Hits $107 per Barrel on Monday

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On Monday, the price of Brent crude oil, the North Sea benchmark grade, stands at $107 per barrel, with the cost of black gold rising by 7% 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 $105 per barrel.

The price discount 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, USA) and ICE (Brent, Europe), as well as regional exchanges like SPIMES (Urals, Russia) and SGX (Asia).

Trading takes place through futures and spot contracts tied to benchmark grades: American WTI, European Brent, and Asian Dubai/Oman, forming the global pricing landscape.

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