The price of "Brent" crude oil on London's ICE exchange exceeded 120 dollars per barrel for the first time since June 17, 2022.
Modern.az reports that exchange data proves this.
According to data as of 23:32 Baku time, the value of "Brent" increased by 7.88% and reached 120.03 dollars per barrel.
At 23:37, the increase in "Brent" slowed down and was traded at 119.95 dollars per barrel (+7.81%). At the same time, the value of WTI crude oil futures for delivery in June 2026 increased by 8.15% and reached 108.07 dollars per barrel.
Last week, due to the continued escalation in the Middle East, a barrel of "Brent" crude oil rose to 105 dollars. After the United Arab Emirates announced its withdrawal from the OPEC and "OPEC+" agreement from May 1, oil prices began to fall. According to international experts, this may encourage other OPEC members to withdraw from the union and cause oil prices to fall.
