Brent crude oil hits $96 per barrel on Monday

© ООО Региональные новости

Brent crude oil, the North Sea benchmark grade, is trading at $96 per barrel on Monday, with the price of black gold falling by 4.5% over the day.

Russian Urals crude, a blend of heavy high-sulfur oil from the Urals-Volga region and light West Siberian Siberian Light oil, is valued at $94 per barrel.

The price discount between Brent and Urals grades 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 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, which shapes the global pricing landscape.

This overview was presented by Alexei Grishchenko, Ph.D., professor of 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.