Global Oil Market Volatile Amid Supply Disruptions and Demand Uncertainty

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Brent crude oil, the North Sea benchmark grade, was trading at $89 per barrel on Monday, with the price of black gold rising by 0.2% 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 $85 per barrel.

The price discount between Brent and Urals grades ranges from $10 to $20 per barrel.

Major trading platforms for crude oil include 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 is conducted through futures and spot contracts linked to benchmark crude grades: American WTI, European Brent, and Asian Dubai/Oman, which shape the global pricing landscape.

This overview was presented by Alexei Grishchenko, Ph.D., Professor of Operational and Sectoral Management at the Higher School of Management of the Financial University under the Government of the Russian Federation.