Brent Crude Oil Dips Below $78 per Barrel on Exchange

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Brent crude oil prices continued to decline during trading on expectations of an imminent end to the Middle East conflict and the reopening of the strategic Strait of Hormuz, according to data from the London-based ICE exchange.

On June 17, the price of the August Brent crude oil futures contract fell by 1.29%, reaching $77.94 per barrel, marking the lowest level since March 2, 2026.

Meanwhile, the August WTI crude oil futures contract also dropped by 1.29%, settling at $74.3 per barrel.