London: The price of Brent crude oil for August 2026 delivery decreased by 1.61% to $79.27 per barrel during trading on the ICE London intercontinental exchange, APA-Economics reports. The decline in oil prices reflects ongoing market trends and economic conditions affecting global trade.

According to Azeri-Press News Agency, the price of one barrel of WTI crude oil for delivery in August 2026 also fell by 0.44% to $75.52 on the NYMEX commodity exchange in New York. The drop in WTI prices aligns with the broader trend observed in the oil market, as traders and investors react to fluctuations in supply and demand dynamics.