London: Oil prices fell by 6% on world markets as trading activities unfolded on major exchanges. During the trading operations on the ICE London intercontinental exchange, the July 2026 contract for Brent oil witnessed a decrease of 6.05%, bringing the price down to $90.76 per barrel.

According to Azeri-Press News Agency, the NYMEX commodity exchange in New York also reported a substantial drop in oil prices. The cost of a barrel of WTI crude oil, slated for export in July 2026, fell by 5.72%, settling at $97.62. This decline reflects significant market movements affecting oil contracts globally.