On the Intercontinental Exchange (ICE) in London, the price of Brent crude for October futures rose by 0.52% to $67.19 per barrel.
On the New York Mercantile Exchange (NYMEX), the price of WTI crude for September delivery also increased — up 0.59% to $63.08 per barrel.
On global markets, the price of Azeri Light crude (CIF) also climbed.
The price of Azerbaijani oil per barrel rose by 0.05%, reaching $73.30. It is noted that earlier the price of a barrel of Azeri Light was $68.34. In Azerbaijan’s state budget for 2025, the average price of this grade of oil is set at $70 per barrel.
This time, the markets reacted to a statement by President Donald Trump, who threatened to halt new wind and solar energy projects, saying in a social media post that they drive up electricity prices everywhere they are implemented. “Any State that has built and relied on windmills and solar for power are seeing RECORD BREAKING INCREASES IN ELECTRICITY AND ENERGY COSTS. We will not approve wind or farmer destroying Solar. The days of stupidity are over in the USA!!! MAGA,” - Trump wrote on Truth Social.
It is worth noting that the United States is not only the world’s largest oil producer but also an industrially developed oil consumer (18.9 million barrels per day).
The United States produces 21.91 million barrels per day, accounting for 22% of global production;
Saudi Arabia — 11.13 million barrels per day, 11% of global production; Russia — 10.75 million barrels per day, 11% of global production; Canada — 5.76 million barrels per day, 6% of global production;
China — 5.26 million barrels per day, 5% of global production; Iraq — 4.42 million barrels per day, 4% of global production; Brazil — 4.28 million barrels per day, 4% of global production; United Arab Emirates — 4.16 million barrels per day, 4% of global production; Iran — 3.99 million barrels per day, 4% of global production; Kuwait — 2.91 million barrels per day, 3% of global production.
