Brent exceeded $68 for the first time since the beginning of August

Oil continues to rise: on Monday afternoon, the price of Brent rose above $68 per barrel for the first time since August 6. October futures for Brent on ICE added 0.58% to $68.12, WTI on NYMEX – 0.68% to $64.09.

Over the past week, Brent rose by 2.9%, WTI – by 1.4%, which was the first weekly increase since the beginning of the month.

Investors are following the negotiations on the settlement of the conflict between Russia and Ukraine. According to analysts, the market is concerned about the stalling of the dialogue, although in general, supply is expected to exceed demand in the fall.

Expectations of a softening of the Fed's policy are also supporting prices. In Jackson Hole, Jerome Powell noted the growing risks to the labor market and admitted the need to lower rates. The market estimates the probability of such a move in September at 87.3%.