Brent crude oil prices averaged USD 69.56 per barrel in July, down 0.4% from June. On 31 July, the commodity traded at USD 72.58 per barrel, up 7.3% from 30 June.
Oil traders took a breather in July as the Iran-Israel conflict—which had driven up Brent prices in June at the quickest pace since March 2022, just after Russia invaded Ukraine— ended earlier than expected. Meanwhile, regarding demand, most analysts remained in the dark on U.S. trade deals with other countries ahead of the 1 August deadline. However a flurry of agreements late in the month have led crude prices to rise slightly.
This chart displays Brent Crude Oil (US$/bbl) from 2023 to 2025.
Brent Crude Oil (prices in US$/bbl, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Brent Crude Oil | - | - | 85.88 | 82.97 | 81.87 | 85.02 | 78.87 | 74.03 | 75.12 | 66.91 | - | - |