Brent Crude Oil Quotes at $107 per Barrel on Monday

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On Monday, the price of the North Sea benchmark crude oil, BRENT, reached $107 per barrel, marking a 3% increase in the cost of black gold over the day.

Russian crude oil URALS, a blend of heavy high-sulfur oil from the Urals-Volga region and light West Siberian oil SIBERIAN LIGHT, was valued at $112 per barrel.

The price difference between BRENT and URALS typically ranges from $5 to $20 per barrel.

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 SPIMEx (Urals, Russia) and SGX (Asia).

Trading takes place through futures and spot contracts linked to benchmark crudes such as American WTI, European Brent, and Asian Dubai/Oman, which shape the global pricing landscape.

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