Brent surges above $86 per barrel on ICE exchange

The price of Brent crude oil futures for August delivery on the London-based ICE exchange has surpassed $86 per barrel for the first time since April 30.

According Report, citing TASS, data from the trading session show that Brent crude prices rose by 0.54% to reach $86.18 per barrel at 18:35 Baku time.

As of the latest update, the Brent crude futures slightly slowed down its upward trajectory but still maintained a strong position, trading at $86.16, representing a 0.53% increase.

Simultaneously, the West Texas Intermediate (WTI) crude futures for August delivery also experienced a notable rise, climbing by 0.69% to reach $81.71 per barrel.