Brent Crude Oil Trades at $95 per Barrel on Monday

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Brent crude oil, the North Sea benchmark grade, hit $95 per barrel on Monday, with the price of black gold rising by 5% 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 crude, was valued at $101 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 SPbMSTB (Urals, Russia) and SGX (Asia).

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

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