Crude Oil Closes Week at $84 per Barrel

14:08; 17 July 2026 year

### Week Ends with Oil Trading at $84 per Barrel Brent crude (the benchmark North Sea oil) is trading at $84.50 per barrel on Friday, with prices up by 0.5%. Russian Urals blend (a mixture of heavy Urals-Volga and light West Siberian Siberian Light oil) is valued at $67 per barrel. The price difference between Brent and Urals ranges from $8 to $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 crude grades: American WTI, European Brent, and Asian Dubai/Oman, which form the global pricing framework. This overview was presented by Alexey Grishchenko, Ph.D., Professor of Operational and Sectoral Management at the Higher School of Management, Financial University under the Government of the Russian Federation.

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