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Brent oil price falls below $78 per barrel for the first time since January 10

According to the exchange data as of 11:23 p.m. Moscow time, the Brent price fell by 1.32% to $77.96 per barrel

MOSCOW, January 24. /TASS/. The price of Brent oil futures with delivery in March 2025 fell below $78 per barrel for the first time since January 10, 2025, according to trading data of the London-based ICE.

According to the exchange data as of 11:23 p.m. Moscow time (08:23 p.m. GMT), the Brent price fell by 1.32% to $77.96 per barrel.

By 11:37 p.m. Moscow time (08:23 p.m. GMT), Brent futures slightly accelerated their decline and fell to $77.94 (-1.34%).

Meanwhile, the WTI crude oil futures with delivery in March 2025 fell by 1.52%, to $74.29 per barrel.

Earlier in the evening of January 23, the prices of crude oil futures with delivery in March 2025 on the London ICE exchange began to decline amid the statement by US President Donald Trump in a video conference speech to participants of the World Economic Forum in Davos that the United States would seek a reduction in oil prices from Saudi Arabia and OPEC, including to put pressure on Russia over Ukraine. The US President also said that OPEC countries should have reduced the price of oil long ago, in which case, according to him, the conflict in Ukraine would have already been over.