Price of Brent oil up above $114 first since May - Update

Global Brent crude oil prices have surpassed $114 per barrel for the first time since May 5, Report informs referring to trading data.

The price of Brent crude oil futures for December delivery rose by 0.94% from the previous close, reaching $114.23 per barrel. This marks the first time the price has exceeded that level since May 5.

The price of futures contracts of Brent crude oil for December 2026 delivery on London's ICE has risen above $114 per barrel for the first time since May 5, 2026, according to trade data, Report informs.

As of 1:52 a.m. GMT, the Brent price was up by 0.78% at $114.05 a barrel.

By 2:01 a.m. GMT, the price of Brent had extended gains to 1.37%, reaching $114.72 per barrel. Meanwhile, the price of futures contracts of WTI crude oil for November 2026 delivery was up by 3.93% at $100.97 per barrel.

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