Brent Crude Oil Quotes at $103 per Barrel on Monday

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On Monday, the price of the North Sea benchmark crude oil, BRENT, reached $103 per barrel, marking a 3% increase in the cost of black gold 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, is valued at $105 per barrel.

The price difference between BRENT and URALS grades ranges from $5 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 SPBMTSB (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 together form the global pricing landscape.

This analysis was presented by Alexei 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.