Brent crude oil futures have accelerated their decline, dropping more than 7% on London’s Intercontinental Exchange.
The sharp sell-off marks a significant extension of the downward pressure that has plagued the energy complex throughout the week.
60 per barrel. Over the past seven days, the benchmark contract has slumped approximately 9%, signaling a persistent shift in market sentiment against crude oil.
WTI crude futures also faced heavy selling, with August delivery contracts falling by 5.34%.
The synchronized drop across both major benchmarks indicates broad-based weakness in the oil market, rather than isolated contract-specific issues.
This latest move follows a period of sustained depreciation for Brent, which had previously settled at $72.60 per barrel.
Over the past seven days, the benchmark contract has slumped approximately 9%, signaling a persistent shift in market sentiment against crude oil.