Brent Crude Oil Hits $104.60 per Barrel on Monday

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On Monday, the price of the North Sea benchmark crude oil, BRENT, stands at $104.60 per barrel, marking a 0.1% 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 $119 per barrel.

The price difference between BRENT and URALS crude typically 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 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, 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.