The front-month ICE Brent crude oil futures contract for October delivery fell by $4.38 per barrel this week, a decline of 4.98%, closing at $83.55 per barrel.

This marks the second consecutive weekly drop, with a cumulative loss of $13.23 per barrel, or 13.67%, over the past two weeks. That represents the largest two-week decline in both dollar and percentage terms since the week ending June 26, 2026.

On Thursday (August 8), the contract rose by $1.06 per barrel, a gain of 1.29%. This marks the third straight day of gains, with a total increase of $4.19 per barrel, or 5.28%, over the past three sessions. It is the largest three-day gain in both dollar and percentage terms since Friday, July 31, 2026.

The current price is 29.40% below the 52-week high of $118.35 per barrel set on Tuesday, March 31, 2026, and 41.80% above the 52-week low of $58.92 per barrel reached on Tuesday, December 16, 2025.

The contract is 25.47% higher than it was 52 weeks ago. It remains 29.40% below the 2026 settlement high of $118.35 per barrel from March 31, 2026, and 39.34% above the 2026 settlement low of $59.96 per barrel recorded on Wednesday, January 7, 2026.

Compared to the all-time high of $146.08 per barrel set on Thursday, July 3, 2008, the current price is 42.81% lower. Year-to-date, the front-month contract has gained $22.70 per barrel, or 37.30%. All prices are based on the settlement price of the current front-month contract.