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Brent Crude Oil Drops to $83.22 per Barrel
09:48; 03 August 2026 year
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Brent crude oil prices plummeted sharply amid news of potential resumption of negotiations between the U.S. and Iran.
During trading on the London-based ICE exchange, the October futures contract for Brent crude dropped by 5.36%, reaching $83.22 per barrel.
Meanwhile, September futures for WTI crude on the New York Mercantile Exchange (NYMEX) electronic trading platform fell by 6.14%, settling at $79.47 per barrel.
Despite this decline, oil prices had seen a significant increase in July, with Brent rising by 24% and WTI by 21%.
