The price of Brent crude oil on the ICE exchange in London decreased by more than 5% to $98.53

The price of Brent crude futures for delivery in June 2026 showed a decrease of more than 5%, according to morning trading on April 1 on the London ICE Exchange.

By 9:58 a.m. Moscow time, the cost of this type of fuel decreased by 5.23%, amounting to $98.53 per barrel. A little later, by 10:03 Moscow time, Brent was trading at $99.01 per barrel (-4.77%), slowing the decline. At the same time, the price of WTI crude oil futures for delivery in May 2026 fell by 4.08%, reaching $97.24 per barrel.

"The drop [in oil prices] is probably due to a temporary lull in trading hours in Asia and profit—taking amid signals from the United States that the war may end in the near future," Emril Jamil, senior analyst at LSEG Oil Research, told Reuters.

Key supply: who will send oil to Cuba after Russia

The war in the Middle East is forcing Washington to ease pressure on the island

Spartak Sobolev, Head of Alfa-Forex's Investment Strategy Research department, told Izvestia on March 30 that the risks of an escalation of the conflict in the Persian Gulf remain a key factor for the oil market and may lead to further price increases. For the May Brent contracts, the trading range of $ 100-120 remains, with the possibility of expanding the upper limit on signals of an escalation of the military conflict in the Middle East.

Also on March 27, Sobolev noted that information stuffing about a possible US ground operation supports oil prices above $ 100 per barrel of Brent. In case of further escalation of the conflict, quotations may rise to the range of $ 115-120 per barrel.

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