Brent Oil Surpasses $88/Barrel Amid Global Market Shift
Brent oil futures for October delivery on the ICE London exchange have surpassed $88/barrel for the first time since July 31, 2026. This milestone was achieved by 4:42 AM Moscow time, when Brent oil prices increased by 0.41%, reaching $88.08/barrel.
However, the price of Brent oil soon slowed down and decreased to $88.01 USD/barrel by 4:47 am Moscow time. Despite this slight decrease, Brent oil still managed to surpass the $88/barrel mark, marking a new milestone in the trading session on August 11.
Meanwhile, WTI oil for September delivery also increased at the same time, with prices rising by 0.43% to $82.48 USD/barrel. The simultaneous increase of both Brent and WTI oils is significant, as it reflects the current trend in the international oil market.