Weekly Close: Oil Trades at $94 per Barrel

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Week Close: Brent Crude Trades at $94 per Barrel

Brent crude oil (the benchmark North Sea oil) is trading at $94 per barrel on Friday, with prices up by 0.2%.

Russian Urals crude (a blend of heavy Urals-Volga and light West Siberian Siberian Light oil) is valued at $86 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 takes place through futures and spot contracts linked to benchmark crude grades: American WTI, European Brent, and Asian Dubai/Oman, which shapes the global pricing landscape.

This overview 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.