Brent crude oil extended losses to around $77.5 per barrel on Monday, hovering near its lowest level since early March, following reports that the US and Iran have agreed to a roadmap aimed at securing a final peace agreement within 60 days. In addition, the US Treasury Department authorized the production, delivery and sale of Iranian oil and petroleum products for 60 days, boosting expectations of a faster supply recovery. Shipping activity through the Strait of Hormuz has also increased. Data showed millions of barrels still flowing through the chokepoint over the weekend. Iran has increased visible oil shipments through Hormuz to the highest level since the conflict began and cut prices for cargoes sold to China. Gulf producers are preparing to raise output, with Kuwait lifting force majeure notices and Abu Dhabi’s ADNOC resuming supply operations. A full reopening of Hormuz could release about 80 million barrels into the market, adding pressure to prices as demand remains weak.

Brent fell to 77.84 USD/Bbl on June 22, 2026, down 3.41% from the previous day. Over the past month, Brent's price has fallen 19.48%, but it is still 8.89% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Brent crude oil reached an all time high of 147.50 in July of 2008. Brent crude oil - data, forecasts, historical chart - was last updated on June 22 of 2026.

Brent fell to 77.84 USD/Bbl on June 22, 2026, down 3.41% from the previous day. Over the past month, Brent's price has fallen 19.48%, but it is still 8.89% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil is expected to trade at 80.93 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 93.63 in 12 months time.



Price Day Month Year Date
Crude Oil 73.58 -3.756 -4.86% -21.64% 7.39% Jun/22
Brent 77.85 -2.740 -3.40% -19.47% 8.91% Jun/22
Natural gas 3.29 0.0928 2.90% 9.29% -13.66% Jun/22
Gasoline 2.97 -0.0337 -1.12% -5.67% 37.45% Jun/22
Heating Oil 3.12 -0.0738 -2.31% -13.85% 36.85% Jun/22
Coal 144.00 0 0% 8.72% 35.08% Jun/19
Ethanol 1.86 0.0250 1.36% -7.00% 14.11% Jun/18
Naphtha 692.24 0.36 0.05% -23.75% 20.00% Jun/18
Propane 0.73 -0.003 -0.40% -16.73% -6.76% Jun/18
Uranium 86.10 0.5500 0.64% 1.35% 13.44% Jun/18
Methanol 2,708.00 -62.00 -2.24% -9.55% 6.61% Jun/22
Urals Oil 66.58 5.39 8.81% -30.77% -7.84% Jun/19


Brent crude oil
Brent crude oil is one of the principal benchmark prices for oil traded globally. Originating from the North Sea, Brent serves as a key pricing reference for crude oil produced in Europe, Africa, and the Middle East, particularly for supplies moving westward. Due to its broad use in international trade, Brent is widely regarded as a global benchmark for oil pricing. Brent crude is typically classified as light and sweet, meaning it has relatively low density and sulfur content, making it easier to refine into products such as gasoline and diesel. Brent prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official Brent crude benchmarks. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
77.84 80.59 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Drops Toward $78
Brent crude oil extended losses to around $77.5 per barrel on Monday, hovering near its lowest level since early March, following reports that the US and Iran have agreed to a roadmap aimed at securing a final peace agreement within 60 days. In addition, the US Treasury Department authorized the production, delivery and sale of Iranian oil and petroleum products for 60 days, boosting expectations of a faster supply recovery. Shipping activity through the Strait of Hormuz has also increased. Data showed millions of barrels still flowing through the chokepoint over the weekend. Iran has increased visible oil shipments through Hormuz to the highest level since the conflict began and cut prices for cargoes sold to China. Gulf producers are preparing to raise output, with Kuwait lifting force majeure notices and Abu Dhabi’s ADNOC resuming supply operations. A full reopening of Hormuz could release about 80 million barrels into the market, adding pressure to prices as demand remains weak.
2026-06-22
Brent Drops as Hormuz Flows and Iran Talks Improve
Brent crude oil fell to around $78.2 per barrel on Monday, hovering near its lowest level since early March as easing geopolitical tensions and progress in US-Iran negotiations supported expectations of a gradual recovery in Persian Gulf supply flows. Iranian Foreign Minister Abbas Araghchi said talks in Switzerland had made “major progress” toward stabilising the wider regional situation, despite earlier volatility and threats to suspend discussions. Mediators Qatar and Pakistan said both sides had agreed on a 60-day roadmap toward a potential final agreement, alongside ongoing technical discussions and the establishment of a monitoring mechanism. Also, shipping data indicated continued movement through the Strait of Hormuz over the weekend. Market participants also pointed to rising Iranian exports via the waterway, including discounted crude sales to China, as evidence of efforts to maintain market share despite the conflict.
2026-06-22
Brent Drops on Signs of Progress in US-Iran Talks
Brent slipped below $80 per barrel on Monday, giving up earlier gains as investors reacted positively to signs of progress in ongoing peace talks between the US and Iran. According to a joint statement from Qatar and Pakistan, which are facilitating negotiations in Switzerland, both sides have agreed to a roadmap aimed at securing a final agreement within 60 days. Oil prices started the session sharply higher after President Donald Trump threatened fresh strikes if Hezbollah continues attacking Israel and warned Tehran against closing the Strait of Hormuz again. Iranian media later reported that Tehran had suspended talks in response to Trump's remarks, though sources familiar with the negotiations said discussions were still underway. Meanwhile, millions of barrels of crude continued to pass through the Strait of Hormuz over the weekend, while producers across the Persian Gulf prepared to increase output.
2026-06-22