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Price of Brent crude oil up by almost 3.5% on London’s ICE

The price of futures contracts of WTI crude oil for August 2025 delivery was up by 1.49% at $71.64 per barrel

MOSCOW, June 17. /TASS/. The price of futures contracts of Brent crude oil for August 2025 delivery has grown by almost 3.5% on London's ICE, according to trading data.

As of 2:30 p.m. Moscow time (11:30 a.m. GMT) the Brent price was up by 3.45% at $75 per barrel.

By 2:40 p.m. Moscow time (11:40 a.m. GMT) the price of Brent futures contracts had narrowed gains to 3.09% as it traded at $74.74 per barrel. The price of futures contracts of WTI crude oil for August 2025 delivery was up by 1.49% at $71.64 per barrel.

The price of Brent oil went up by more than 4% on the ICE at the beginning of the new trading week amid the conflict in the Middle East.

Overnight into June 13, Israel kicked off Operation Rising Lion aimed against Iran’s nuclear program. Iran retaliated in less than 24 hours. Israel and Iran exchanged strikes again on June 14 and in the early hours of June 15. Both parties reported casualties and damage, and admitted that a number of facilities had been hit, but said the damage was minor.