Brent Crude Oil Quotes at $73.40 per Barrel on Monday

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Brent crude oil, the North Sea benchmark grade, is trading at $73.40 per barrel on Monday, marking a 0.3% decline in the price 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 $59 per barrel.

The price discount between Brent and Urals grades ranges from $8 to $15 per barrel.

Major oil trading platforms 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 shape 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 Higher School of Management, Financial University under the Government of the Russian Federation.