Brent August futures price exceeds $68.21

Oil prices are rising on June 27, but are ending the week significantly lower, Report informs referring to Interfax.

The ceasefire between Iran and Israel is holding, which is easing traders' concerns about possible interruptions in oil supplies from the Middle East.

The cost of August futures for Brent crude on the London ICE Futures exchange as of 09:20 (GMT+4) was $68.21 per barrel, which is $0.48 (0.71%) higher than at the close of the previous trades. On Thursday, these contracts increased in price by $0.05 (0.07%), to $67.73 per barrel.

Futures for WTI crude oil for August on electronic trading on the New York Mercantile Exchange (NYMEX) have risen by this time by $0.48 (0.74%), to $65.72 per barrel.

Following the previous session, the cost of these contracts increased by $0.32 (0.49%), to $65.24 per barrel. Since the beginning of this week, Brent has fallen by 12%, and WTI by 11%.