Brent Crude Oil Futures Drop Below $97 Per Barrel
Quick Look
- Brent crude oil futures for July 2026 delivery fell below $97 per barrel on London's ICE exchange for the first time since May 11, 2026, with prices down 6.41% to $96.9 by 3:23 p.m.
- WTI futures also saw a significant drop.
AI-generated summary
Why It Matters
The price of Brent crude oil futures for July 2026 delivery has fallen below $97 per barrel on London's ICE exchange for the first time since May 11, 2026. As of 3:23 p.m. Moscow time, the Brent price was down by 6.41% at $96.9 a barrel.
MOSCOW, May 25. /TASS/. The price of futures contracts of Brent crude oil for July 2026 delivery on London’s ICE has dropped below $97 per barrel for the first time since May 11, 2026, according to trade data.
As of 3:23 p.m. Moscow time (12:23 p.m. GMT), the Brent price was down by 6.41% at $96.9 a barrel. By 3:28 p.m. Moscow time (12:28 p.m. GMT), the price of Brent had narrowed losses to 5.98% reaching $97.35 per barrel. Meanwhile the price of futures contracts of WTI crude oil for July 2026 delivery was down by 5.97% at $90.83 per barrel.
Open Questions
- What are the specific factors contributing to this price drop?
- Will the price continue to fall or rebound?
- What is the expected impact on global energy markets?
