Brent price drops below $72 per barrel

The cost of a Brent oil futures contract with settlement in September 2021 on the London ICE exchange declined by 2.31%, to $71.87 per barrel, according to the trading data as of 11:27 Moscow time.

By 11:44 Moscow time, the price of Brent accelerated its decline and dropped to $71.57 per barrel, which is 2.74% down since the previous session's close.

The last time the price of Brent was below $ 72 per barrel was on June 11 this year.

Meanwhile, the price of WTI crude oil dropped by 2.92% to $69.47 per barrel, falling below $ 70 per barrel for the first time since June 18.