Brent Crude Prices Drop as WTI Rises Amid U.S. Inventory Decline

The price of Brent crude, the primary benchmark for oil, declined on Friday during midday trading.

The cost of North Sea Brent crude for August delivery fell by 2.08%, reaching $77.21 in London. In contrast, West Texas Intermediate (WTI) crude for July delivery—its final day of trading—increased by 1.09% to $75.96.

This contrasting trend is attributed to “the most significant drop in U.S. inventories in nearly a year,” according to an analyst.