MOSCOW, May 5, 2025 (BSS/TASS) - The price of futures contracts of Brent crude oil for July 2025 delivery has dropped below $59 per barrel on London's ICE for the first time since April 9, according to trading data.

As of 1:00 a.m. Moscow time (10:00 p.m. GMT on May 4), the cost of Brent was down by 4.54% to $58.88 per barrel.

By 1:017 a.m. Moscow time (10:17 p.m. GMT on May 4), Brent was trading at $58.9 per barrel (-4.15%). At the same time, WTI oil futures for delivery in June 2025 fell by 4.28%, to $55.88 per barrel.