World oil prices are increasing by more than 1.5 percent against the background of expectations for demand. The price of Brent crude oil reached record levels in two years and rose above $74 per barrel for the first time since April 2019.

As of 21:17 Moscow time, the price of August futures for Brent crude rose by 1.56 percent to $74 per barrel. Oil prices surpassed $74 a few minutes earlier. This happened for the first time since April 2019.

The price of July futures for WTI crude oil increased by 1.74 percent, to $72.09 per barrel, and during the day the indicators increased by only 0.3 percent.