Weekly Close: Oil Trades at $106 per Barrel

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Weekly Close: Brent Crude Hovers at $106 per Barrel

Brent crude (the benchmark North Sea oil) is trading at $106 per barrel on Friday, with prices down by 2%.

Russian Urals crude (a blend of heavy Urals-Volga and light West Siberian Siberian Light oil) is valued at $104 per barrel.

The price discount between Brent and Urals grades ranges from $10 to $15 per barrel and is subject to high volatility.

Major trading platforms for oil include international commodity exchanges such as NYMEX (WTI, USA) and ICE (Brent, Europe), as well as regional exchanges like SPBME (Urals, Russia) and SGX (Asia).

Trading takes place through futures and spot contracts linked to benchmark crude grades: American WTI, European Brent, and Asian Dubai/Oman, shaping 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, Financial University under the Government of the Russian Federation.