Weekly Close: Oil Trades at $98 per Barrel

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Week Ends with Oil Trading at $98 per Barrel

Brent crude oil (the benchmark North Sea oil) is trading on Friday at $98.40 per barrel, with prices down by 1%.

Russian Urals crude (a blend of heavy Urals-Volga and light West Siberian Siberian Light oil) is valued at $114 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, USA) and ICE (Brent, Europe), as well as regional exchanges like SPbMICE (Urals, Russia) and SGX (Asia).

Trading is conducted through futures and spot contracts linked to benchmark oil grades: American WTI, European Brent, and Asian Dubai/Oman, which shapes the global pricing landscape.

The analysis 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.