Brent Crude Oil Quotes at $83.50 per Barrel on Monday

© ООО Региональные новости

Brent crude oil, the North Sea benchmark grade, is trading at $83.50 per barrel on Monday, with the price of black gold rising by 2.5% 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 $78 per barrel.

The price discount between Brent and Urals grades stands at $10-20 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 is conducted through futures and spot contracts linked to benchmark oil grades, including 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.