Brent oil price up above 87 dollars per barrel first since June 15

The price of futures contracts of Brent crude oil for September 2026 delivery on London’s ICE has risen above $87 per barrel for the first time since June 12, 2026, according to trade data.

The price of Brent crude was up 4.83% to $87.32 a barrel on Tuesday. It settled 9% higher on Monday, surging after U.S. President Donald Trump’s comments on reinstating the blockade. The recent surge has pushed the cost of Brent crude 17% above its prewar price. WTI crude, the U.S. benchmark, rose to $80 a barrel.

As of 3:16 a.m. Moscow time (12:16 a.m. GMT), the Brent price was up by 2.04% at $85.02 a barrel.

As of 3:23 a.m. Moscow time (12:23 a.m. GMT), the price of Brent was up by 2.78% reaching $85.64 per barrel. Meanwhile the price of futures contracts of WTI crude oil for July 2026 delivery was up by 8.25% at $80.42 per barrel.