The price of Brent crude oil futures for November delivery on London’s ICE exchange fell below $72 per barrel for the first time since June 28, 2023, according to trading data.

Report informs via TASS that, according to exchange data as of 17:44 Moscow time, the price of a barrel of Brent fell by 1.02%, to $71.95.

By 6.00 PM Moscow time, Brent futures accelerated their decline and were trading at $71.58 (-1.76%). At the same time, WTI crude futures for October delivery fell by 1.79% to $67.91 per barrel.

The market is still under pressure from signals of weakening global economic activity, which are increasing traders’ concerns over the outlook for oil demand.