Brent crude falls below $97 per barrel, first time since May 11

Lead

Brent crude oil futures for July 2026 delivery on London's ICE exchange fell below $97 per barrel for the first time since May 11, 2026, according to trading data reported by TASS. As of 3:23 p.m. Moscow time (12:23 p.m. GMT), Brent was down 6.41% at $96.9 a barrel. By 3:28 p.m. Moscow time (12:28 p.m. GMT), the price had narrowed losses to 5.98%, reaching $97.35 per barrel. Meanwhile, WTI crude oil futures for July 2026 delivery were down 5.97% at $90.83 per barrel.

Coverage Comparison

The report from TASS, dated May 25, is one of several recent updates on oil futures prices from the Russian state news agency. The coverage has tracked a series of declines in Brent and WTI futures over the past week, with prices repeatedly hitting new lows for the period.

On May 21, TASS reported that Brent futures for July 2026 delivery dropped below $103 per barrel for the first time since May 8. By 8:49 p.m. Moscow time, Brent was down 2.15% at $102.76 per barrel, later extending losses to $102.36 per barrel (-2.53%). WTI futures for June 2026 delivery fell 2.33% to $95.97 per barrel.

On May 26, TASS noted that Brent futures had grown by almost 3%, reaching $98.88 a barrel before narrowing gains to 2.45% at $98.5 per barrel. The same report noted that on the previous day, Brent had dropped below $96 per barrel for the first time since April 21, 2026. WTI futures for July 2026 delivery were down 4.82% at $91.94 per barrel.

On May 27, TASS reported that Brent futures fell below $95 per barrel, a level not seen since April 21. As of 15:22 Moscow time, Brent was down 4.95% at $94.65 per barrel, later trading at $94.84 per barrel (-4.76%). WTI futures for June 2026 delivery were down 5.7% at $88.54 per barrel.

On May 28, TASS reported that Brent futures with delivery in July fell below $93 per barrel for the first time since April 20. Brent prices fell 1.79% to $92.6 a barrel before recovering to $93.99 per barrel (-0.32%). WTI futures with settlement in July lost 0.1% to $88.62 per barrel.

On May 29, TASS reported that August 2026 Brent futures slipped below $90 per barrel for the first time since April 17. As of 6:14 p.m. Moscow time, Brent was down 2.99% at $89.93 per barrel, later trimming losses to $90.41 per barrel (-1.47%). July 2026 WTI futures fell 2.16% to $86.98 per barrel.

Key Claims

• Brent below $97: TASS reported on May 25 that Brent futures for July 2026 delivery fell below $97 per barrel for the first time since May 11, 2026.
• Price movements: Intraday figures from TASS show Brent fluctuating, with a low of $96.9 per barrel and a later recovery to $97.35 per barrel.
• WTI movement: TASS reported WTI crude oil futures for July 2026 delivery down 5.97% at $90.83 per barrel on the same day.
• Prior milestones: TASS reported several other first-time lows in the preceding days, including below $103 (May 21), below $96 (May 25), below $95 (May 27), below $93 (May 28), and below $90 for August futures (May 29).