Brent Crude Hits $91 per Barrel on Monday

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Brent crude oil, the North Sea benchmark grade, was trading at $91 per barrel on Monday, with the price of black gold falling by 6% over the day.

Russian Urals crude, a blend of heavy high-sulfur oil from the Urals-Volga region and light Western Siberian oil known as Siberian Light, was valued at $82 per barrel.

The price discount between Brent and Urals grades is typically $10-20 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 linked to benchmark crude grades, including American WTI, European Brent, and Asian Dubai/Oman, which helps form 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 Faculty of Higher School of Management of the Financial University under the Government of the Russian Federation.