Brent Crude Oil Prices Jump To A Five-month High

• 19.06.2025, 20:06

The cost of Brent again exceeded the mark of $79 per barrel.

The cost of August futures for Brent oil on the London-based ICE Futures exchange rose by 3.05% at the peak and rose to $79.04 per barrel. Oil has not been traded at this mark since January 23.

By 19:33 Minsk, the growth slowed to 1.9%, the quotes rolled back to $78.16 per barrel. Since the beginning of the month, oil has risen by almost 25%.

Prices for raw materials rose against the background of the conflict between Israel and Iran, which may cause disruptions in oil supplies. The conflict has been ongoing since June 13, 2025, when Israel announced a pre-emptive strike against Iran over its nuclear program. According to Israeli Prime Minister Binyamin Netanyahu, the aim of the operation was to "damage Iran's nuclear infrastructure, Iran's ballistic missile factories and Iran's military capabilities." Iran responded with missile strikes on Israeli cities and drone strikes.