Brent Crude Oil Quotes at $97 per Barrel on Monday

© ООО Региональные новости

On Monday, the price of Brent crude oil, a benchmark grade from the North Sea, reached $97 per barrel, marking a 5% increase in the cost of black gold 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 $79 per barrel.

The price difference 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 SPIMEx (Urals, Russia) and SGX (Asia).

Trading takes place through futures and spot contracts tied to benchmark grades of oil: American WTI, European Brent, and Asian Dubai/Oman, which shape the global pricing landscape.

This overview was presented by Alexei Grishchenko, Doctor of Economics, Professor at 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.