Brent Crude Oil Hits $96 per Barrel on Monday

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On Monday, the price of North Sea Brent crude oil dropped by 2% to $96 per barrel.

Meanwhile, Urals crude, a blend of heavy, high-sulfur oil from the Urals-Volga region and light West Siberian Siberian Light oil, is valued at $73 per barrel.

The price difference between Brent and Urals stands at $10-20 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 Alexei Grishchenko, Ph.D., Professor of Operational and Industry Management at the Higher School of Management of the Financial University under the Government of the Russian Federation.