The price of Brent crude oil exceeded $77 per barrel on July 5 for the first time since October 30, 2018. At the time of this writing, the September futures price was $77.04 per barrel, according to trade data.

Therefore, oil has broken a new record, which will be the next one in recent weeks. On June 23, the price climbed to a level above $76, which is also the highest in several years.

Experts do not exclude that the price of Brent can rise to $100 per barrel next year. Among other things, this is due to the recovery in demand after the pandemic.