Brent Crude Oil Quotes at $108 per Barrel on Monday

© ООО Региональные новости

On Monday, the price of the North Sea benchmark crude oil, BRENT, reached $108 per barrel, marking a daily increase of 2.5% in the cost of black gold.

Meanwhile, the Russian crude oil blend URALS, which combines heavy high-sulfur oil from the Urals-Volga region and light Western Siberian oil known as SIBERIAN LIGHT, was valued at $106 per barrel.

The price difference between BRENT and URALS typically ranges from $8 to $15 per barrel.

The main trading platforms for crude 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 linked to benchmark crude grades: American WTI, European Brent, and Asian Dubai/Oman, creating a global pricing landscape.

This overview was presented by Alexey 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.