Weekly Close: Oil Trades at $102 per Barrel

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Week Close: Brent Crude Oil Trades at $102 per Barrel

Brent crude oil (the benchmark North Sea oil) is trading at $102 per barrel on Friday, with prices down by 1.5%.

Russian Urals crude (a blend of heavy Urals-Volga and light West Siberian Siberian Light oil) is valued at $128 per barrel.

The price difference between Brent and Urals crude ranges from $7 to $20 per barrel and is highly volatile.

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 is conducted through futures and spot contracts tied 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 Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.