Baku: The price of Brent crude oil experienced a significant decline during trading on the Intercontinental Exchange (ICE). The October 2026 contract for Brent crude oil saw a decrease of 5.06%, bringing the price down to $83.48 per barrel.
According to Azeri-Press News Agency, WTI crude oil prices also witnessed a drop. The September 2026 delivery on the New York Mercantile Exchange (NYMEX) decreased by 5.82%, reaching $79.74 per barrel. This downturn in oil prices reflects a notable shift in the global oil market.