Brent Crude Oil Quotes at $83 per Barrel on Monday

© ООО Региональные новости

On Monday, the price of the North Sea benchmark crude oil, Brent, dropped to $83 per barrel, marking a decline of 5% in the value 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 oil known as Siberian Light, is valued at $72 per barrel.

The price differential between Brent and Urals 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 SPIMEx (Urals, Russia) and SGX (Asia).

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

This analysis was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management at the Higher School of Management, Financial University under the Government of the Russian Federation.