Brent Crude Oil Hits $101 per Barrel on Monday

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On Monday, the price of the North Sea benchmark crude oil BRENT stands at $101 per barrel, marking a 0.3% increase in the cost of black gold over the day.

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 $113 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 SPBMEX (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, 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 of the "Higher School of Management" Faculty at the Financial University under the Government of the Russian Federation.