London: The price of Brent oil futures for March 2026 delivery on the London ICE exchange fell by 1.32% to $60 per barrel at the start of the new trading week. This marks the first time since December 19, 2025, that the price has reached this level, following US military actions in Venezuela.
According to Azeri-Press News Agency, trading data revealed that as of 2:00 a.m. Moscow time (11:00 p.m. GMT on January 4), the Brent oil price had decreased by 1.32% to $60 per barrel. The decline in oil prices was attributed to the geopolitical tensions resulting from the US strikes.
By 2:35 a.m. Moscow time (11:35 p.m. GMT on January 4), the rate of decline for Brent futures had slowed, with the price slightly recovering to $60.57 per barrel, reflecting a smaller drop of 0.3%. Additionally, WTI oil futures for February 2026 delivery experienced a decrease of 0.44%, settling at $57.07 per barrel.