Oil Prices Dip Slightly as World Bank Reports July Figures

The World Bank has released its latest report on average oil prices for Brent and WTI crude. According to the report, in July this year, the average price of one barrel of Brent benchmark crude oil was $83.4, which is a 2.34% drop from June's figure of $85.4.

The World Bank noted that the average price of Brent crude reached $104.4 in the second quarter of this year, representing a significant increase of 54% compared to the same period last year when it stood at $67.8.

Looking further back, the report recalled that the average price of Brent crude was $69 in 2025, marking a decline of 14.5% from 2024's figure of $80.7.

The average price of one barrel of WTI (West Texas Intermediate) benchmark crude in July this year was $79.4, down 3.1% from the previous month's figure of $81.9.