Crude Oil Closes Week at $107 per Barrel

14:42; 15 May 2026 year

### Week Closing: Brent Crude Hits $107 per Barrel Brent crude oil (the benchmark North Sea crude) traded at $107 per barrel on Friday, marking a 1.4% increase in prices. Russian Urals crude (a blend of heavy Urals-Volga and light West Siberian Siberian Light oil) was valued at $96 per barrel. The price difference between Brent and Urals crude stands at $8-15 per barrel. Major trading platforms for crude oil include 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 is conducted through futures and spot contracts tied to benchmark crude grades: American WTI, European Brent, and Asian Dubai/Oman, forming a global pricing framework. This analysis was presented by Alexey Grishchenko, Ph.D., Professor of Operational and Sectoral Management at the Faculty of Higher School of Management, Financial University under the Government of the Russian Federation.

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