Brent Crude Oil Quotes at $106.60 per Barrel on Monday

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On Monday, the price of the North Sea benchmark crude oil, BRENT, reached $106.60 per barrel, marking a 2% increase in the cost of black gold over the day.

Russian crude oil URALS, a blend of heavy high-sulfur oil from the Urals-Volga region and light Western Siberian oil known as SIBERIAN LIGHT, is valued at $110 per barrel.

The price difference between BRENT and URALS crude stands at $8-15 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 is conducted through futures and spot contracts linked to benchmark crude grades: American WTI, European Brent, and Asian Dubai/Oman, shaping the global pricing landscape.

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