Brent Crude Oil Quotes at $91 per Barrel on Monday

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On Monday, the price of the North Sea benchmark crude oil BRENT reached $91 per barrel, with the cost of black gold rising by 3% over the day.

Russian URALS crude, a blend of heavy high-sulfur oil from the Urals-Volga region and light Western Siberian oil (SIBERIAN LIGHT), is valued at $79 per barrel.

The price discount between BRENT and URALS grades ranges from $10 to $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 crude grades: American WTI, European Brent, and Asian Dubai/Oman, forming a global pricing framework.

This overview was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.