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.
