Crude Oil Closes Week at $101 per Barrel

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Week Ends with Oil Trading at $101 per Barrel

Brent crude oil (the benchmark North Sea oil) is trading at $100 per barrel on Friday, with prices dropping by 1.5%.

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

The price difference between Brent and Urals grades fluctuates between $7 and $20 per barrel, 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 SPIMES (Urals, Russia) and SGX (Asia).

Trading takes place through futures and spot contracts tied to benchmark crude grades: American WTI, European Brent, and Asian Dubai/Oman, shaping 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.