Brent crude oil trades at $71.60 per barrel on Monday

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On Monday, the price of the North Sea benchmark crude oil, BRENT, stands at $71.60 per barrel, marking a 0.6% decline 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 SIBERIAN LIGHT oil, is valued at $50 per barrel.

The price discount 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 SPIMES (Urals, Russia) and SGX (Asia).

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

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