Brent tops $110 per barrel, reaches highest level since May — Anadolu Agency

On Monday, October 19, Brent crude oil futures exceeded $110 per barrel and reached their highest level since mid-May. Energy prices declined at the beginning of the week but later turned higher on Monday.

Brent and WTI dynamics

As of 18:00 GMT, Brent futures gained 0.2% and traded above $110 per barrel, Anadolu Agency reports. The price of U.S. WTI crude stood at $103.5 per barrel, up 2%.

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Gas and heating oil

Gas prices in the European Union rose by 1% to €88.5 per megawatt-hour. Heating oil prices increased by 0.1% to reach $4.9 per gallon.

The rise in WTI futures was more noticeable than that of Brent: 2% versus 0.2%. The figures cited by the agency reflect the market situation as of Monday evening.