Brent Crude Tops $77 Per Barrel First Time Since 30 October 2018

© AFP 2023 / HUGO BERGSAKER"Brent Spar" oil platform
Brent Spar oil platform - Sputnik International, 1920, 05.07.2021
MOSCOW (Sputnik) - Oil prices continued rally after the cancellation of the OPEC+ meeting, which was supposed to be held on Monday, and Brent crude topped $77 per barrel first time since 30 October 2018, trading data showed.
As of 7:15 p.m. Moscow time (16:15 GMT), September futures for the North Sea Brent crude rose by 1.14% to $77.04 per barrel, August futures for WTI crude were trading up 1.38% at $76.2 per barrel.
Earlier in the day, the OPEC+ meeting was scheduled, but its beginning was delayed, as the participants held informal consultations. Three sources in the alliance's delegations told Sputnik that OPEC+ had canceled its meeting and had not yet decided on a new date for the talks. According to Bloomberg, OPEC+ quotas are still maintained at current levels.
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