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

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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 October 30, 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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