Brent oil price exceeded $118 per barrel

The price of Brent crude oil for May 2026 delivery on London's ICE exchange exceeded $115 per barrel for the first time since June 29, 2022.

As reported by BAKU.WS with reference to Report, this is evidenced by trading data.

According to data as of 08:12 Baku time, the oil price reached $115.33 per barrel, having increased by 23.21%.

By 08:16, the price accelerated its growth and exceeded $117 per barrel for the first time since June 17, 2022, rising to $117.16 (+26.4%).

As of 08:20, oil was trading at $118.73 per barrel (+28.09%).

By 08:25 Baku time, the growth slowed down, and the price stood at $116.36 per barrel (+25.54%).