Brent oil fell to $94 for the first time since February

For the first time since February 21, 2022, the price of a futures contract for Brent crude fell to $94 per barrel, follows from the exchange quotes. ICE. Yesterday, August 3, the price of Brent oil fell to $98.5 per barrel amid the decision of OPEC + to increase production of the energy resource.

The price of US-brand oil also fell. WTI – up to $88.5 per barrel (futures with delivery in September 2022). Based on the results of the OPEC+ meeting, the oil exporting states decided to increase the production of the energy resource in September by 100,000 barrels per day.

On the situation in the oil market – in the material “Kommersant” “The barrel rolled back.”

Andrey Sapozhnikov