Crude Oil Closes Week at $93 per Barrel

© ООО Региональные новости

Weekend Close: Brent Crude Trades at $93 per Barrel

Brent crude oil (the benchmark North Sea oil) is trading at $93 per barrel on Friday, with prices dropping by 0.5%.

Russian Urals blend (a mix of heavy Urals-Volga and light West Siberian Siberian Light crude) is valued at $90 per barrel.

The price difference between Brent and Urals grades stands at $10-15 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 grades: American WTI, European Brent, and Asian Dubai/Oman, which shapes the global pricing landscape.

Analysis provided by Alexey Grishchenko, Ph.D., Professor of Operational and Sectoral Management at the Faculty of Higher School of Management, Financial University under the Government of the Russian Federation.