Weekly Close: Oil Trades at $72 per Barrel

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Weekly Close: Brent Crude Hovers Around $72 per Barrel

Brent crude oil (the benchmark North Sea oil) is trading at $72.60 per barrel on Friday, with prices up by 0.1%.

Russian Urals crude (a blend of heavy Urals-Volga and light West Siberian SIBERIAN LIGHT oil) is valued at $59 per barrel.

The price discount between Brent and Urals grades stands at $8-15 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 SPIMES (Urals, Russia) and SGX (Asia).

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

This overview was presented by Alexey 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.