Brent Crude Oil Prices Hit $107 per Barrel on Monday

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On Monday, the price of North Sea benchmark crude oil BRENT fell to $107 per barrel, marking a 2.4% decline in the value 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 grades 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 takes place through futures and spot contracts linked to benchmark crude grades: American WTI, European Brent, and Asian Dubai/Oman, which together form the global pricing framework.

This overview was presented by Alexey Grishchenko, Ph.D., Professor of 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.