Crude Oil Closes Week at $105 per Barrel

14:11; 22 May 2026 year

### Weekend Wrap: Brent Crude Hits $105 per Barrel Brent crude oil (the benchmark North Sea oil grade) traded at $105 per barrel on Friday, with prices rising by 2.4%. Russian Urals crude (a blend of heavy Urals-Volga and light West Siberian Siberian Light oil) was valued at $94 per barrel. The price discount between Brent and Urals grades ranges from $8 to $15 per barrel. The main trading platforms for oil are 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 tied to benchmark oil grades: American WTI, European Brent, and Asian Dubai/Oman, which shape the global pricing landscape. This 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.

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