Weekly Close: Oil Trades at $94 per Barrel

14:56; 29 May 2026 year

### Weekend Close: Brent Hovers at $94 per Barrel Brent crude oil (the benchmark North Sea oil) is trading at $94 per barrel on Friday, with prices rising by 0.1%. Russian Urals crude (a blend of heavy Urals-Volga and light West Siberian Siberian Light oil) is valued at $83 per barrel. The price difference between Brent and Urals grades stands at $8-15 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 crude grades: American WTI, European Brent, and Asian Dubai/Oman, shaping the global pricing landscape. The analysis was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.

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