The price of futures contracts of Brent crude oil for September 2026 delivery on London’s ICE has risen above $79 per barrel for the first time since June 23, 2026, according to trade data.
As of 11:25 a.m. Moscow time (8:25 a.m. GMT), the price of Brent rose above $79 per barrel also for the first time since June 22 as it traded at $79.17 per barrel (+6.76%).
Meanwhile the price of futures contracts of WTI crude oil for August 2026 delivery was up by 6.7% at $75.16 per barrel.
The moves followed recent attacks on commercial vessels transiting the Strait of Hormuz, a critical energy chokepoint, fueling concerns that renewed hostilities could threaten crude and fuel flows from the Gulf. U.S. President Donald Trump said he did not want to continue dealing with Tehran, using harsh language against Iranian leaders.
