The price of Brent oil futures for October delivery on the ICE London exchange exceeded the $88/barrel mark for the first time since July 31, 2026, according to transaction data quoted by TASS.
By 4:42 AM on August 11 (Moscow time), Brent oil prices increased by 0.41%, to $88.08/barrel. This is the first time Brent oil futures for October delivery have surpassed the $88/barrel mark since the end of July.
After that, the increase of Brent oil slowed down somewhat. By 4:47 am (Moscow time), oil prices slightly decreased to 88.01 USD/barrel.
The above development was recorded in the trading session on the ICE London exchange, where Brent oil futures for October delivery are being traded.
Meanwhile, WTI oil for September delivery also increased at the same time. By 4:47 am (Moscow time), WTI oil futures contracts increased by 0.43%, to 82.48 USD/barrel.
Thus, both mentioned oils recorded an increase in the trading session, with Brent oil exceeding the 88 USD/barrel mark and WTI oil rising above 82 USD/barrel.
Brent oil price is a widely followed price on the international oil market, while WTI oil price is one of the important reference oil prices of the US market.
The fact that Brent oil prices exceeded 88 USD/barrel marked a new milestone in the trading session on August 11, when October delivery contracts returned above this level for the first time since July 31.
