Brent crude price dropped below $ 71

Brent crude oil prices accelerated their decline to their lowest levels since June 10. During trading on the London ICE stock exchange, it dropped below $ 71 per barrel. WTI costs less than $ 69.

As of 15:11, September Brent futures are worth $ 70.96. This is 3.57% less than in the previous trades. WTI price is $ 68.76 (-3.9%). In the morning, oil prices fell within 1%.

The dollar exchange rate on the Moscow Exchange is growing against the ruble by 64 kopecks, to 74.7 rubles. The value of the euro increased by 45 kopecks, to 87.9 rubles. The Moscow Exchange index dropped by 1.69% (3706.7 points), the RTS – by 2.55% (1562.3 points).

OPEC + countries agreed on the eve of production growth rates. From August until the end of the year, the alliance will increase it by 400 thousand barrels per day per month and intends, if possible, to maintain this pace next year. In this case, the OPEC + deal could be completed in September 2022.

More details – in the material of “Kommersant” “Production sales”.

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