Brent drops to $85 per barrel

Oil prices dropped insignificantly on Monday following last week's leap after several OPEC+ countries including Saudi Arabia decided on additional output cut.

Report informs via Interfax that US and European exchanges were closed on Friday due to Easter holidays.

The cost of June futures for Brent reaches $85 per barrel at London's ICE Futures, which is a drop of $0.12 or 0.14% over the previous session close.

The price of futures for WTI oil for May in electronic trading on the New York Mercantile Exchange (NYMEX) fell by $0.09 (0.11%), to $80.61 per barrel by this time.

Following the results of a short last week, Brent rose by 6.6%, and WTI grew by almost 6.7%.

The market's attention this week is focused on monthly reviews of OPEC and the International Energy Agency (IEA) on the oil market, as well as data from the US Department of Energy on energy reserves in the country.

Last week, the US Department of Energy reported a decline in stocks of both oil and gasoline, as well as distillates in the country.