The drop in world oil prices has intensified due to signs of de-escalation of the conflict in the Middle East.
The price of a barrel of Brent oil dropped below $80 during trading on the London Stock Exchange on Tuesday, July 23. This was confirmed by trading data.
September futures for Brent on the London ICE Futures exchange were down $1.77 (2.15%) at $80.63 a barrel.
WTI futures for September on the New York Mercantile Exchange (NYMEX) fell $1.90 (2.42%) to $76.50 a barrel.
Oil prices fell sharply due to signs of de-escalation of the conflict in the Middle East. Israeli Prime Minister Benjamin Netanyahu said hopes for the release of Hamas hostages in the Gaza Strip are growing.
Netanyahu’s statement came shortly after the Palestinian movements Fatah and Hamas, brokered by China, reached a reconciliation agreement.
We remind you that Russia’s revenues from oil exports fell to their lowest level since February 2024 amid lower supply volumes. In the past four months, only in February was Russia’s income lower than in June.
Source: korrespondent
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