MOSCOW: The price of futures contracts of Brent crude oil for June 2026 delivery lost 15% at the start of trading on London's ICE, havi...
MOSCOW: The price of futures contracts of Brent crude oil for June 2026 delivery lost 15% at the start of trading on London's ICE, having fallen below $92 per barrel for the first time since March 11, 2026, according to trading data.
As of 3:00 a.m. Moscow time (12:00 a.m. GMT) the Brent price was down by 15.35% at $92.5 a barrel.
By 3:05 a.m. Moscow time (12:05 a.m. GMT) the price of Brent had extended losses to 15.66% reaching $91.16 per barrel. Meanwhile, the price of futures contracts of WTI crude oil for May 2026 delivery was down by 16.33% at $94.5 per barrel.
As of 7:00 a.m. Moscow time (4:00 a.m. GMT) the Brent price was down by 13.46% at $94.56 a barrel, while the WTI price was down by 14.76% at $96.28 a barrel.
On Wednesday night, US President Donald Trump announced a two-week bilateral ceasefire with Iran. The decision was made in accordance with the proposal by Pakistani Prime Minister Shehbaz Sharif and the readiness of the Islamic Republic of Iran to fully, immediately, and safely open the Strait of Hormuz, the American leader said. Pakistani Prime Minister invited US and Iranian delegations to Islamabad on April 10 for further negotiations. US Vice President JD Vance, special envoy Steve Witkoff, and businessman Jared Kushner, are expected to take part in the talks, CNN reported.
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