Weekly Close: Oil Trades at $106 per Barrel

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Week Ends with Oil Trading at $106 per Barrel

Brent crude oil (the benchmark North Sea oil) is trading at $100 per barrel on Friday, with prices down by 0.5%.

Russian Urals blend (a mixture of heavy Urals-Volga and light West Siberian Siberian Light crude) is valued at $115 per barrel.

The price difference between Brent and Urals crude ranges from $7 to $20 per barrel and is subject to high volatility.

The main trading platforms for oil are 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, which together form the global pricing landscape.

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