Brent crude falls below $73 barrel for first time since February

The price of Brent crude futures for August delivery fell below $73 per barrel for the first time since February 27 during trading on the ICE exchange in London, AzerNEWS reports.

According to trading data from the exchange, Brent crude was trading at $72.99 per barrel as of 05:01 Baku time, marking a decline of 1.02 percent.

The downward trend continued in subsequent minutes. By 05:21 Baku time, the price of Brent crude had slipped further to $72.89 per barrel, representing a 1.15 percent decrease compared with the previous trading level.

The decline highlights ongoing volatility in global oil markets, with investors closely monitoring supply and demand dynamics as well as geopolitical developments that continue to influence energy prices.