The price of Brent crude oil rose above $100 per barrel for the first time since May 2026

The price of Brent crude oil exceeded $100 per barrel for the first time since May 22. As of July 23, this is evidenced by the trading data of the ICE exchange.

As of 16:00 GMT, Brent crude futures were trading at $99,840 per barrel. The increase in quotations since the beginning of trading amounted to 6.134%, the trading volume reached 221,495 contracts.

Earlier in the day, during trading, the price of Brent rose above the psychologically important mark of $100 per barrel. The rise in oil prices is taking place against the background of increased investor attention to the risks to supplies on the global oil market and the situation around key producers and export routes.

Brent is an international price benchmark for the oil market and is used to determine the value of a significant part of the global supply of raw materials.

Black in gold: Brent crude oil price is forecast at $100-120 per barrel

Under what conditions is this possible and what benefits does it promise to the Russian budget?

On July 23, Reuters pointed to an increase in oil prices due to the escalation in the Middle East. It is noted that this trend is associated with a new escalation of the conflict between the United States and Iran, which threatens energy supplies through the Strait of Hormuz.