Page 39 - Policy & Economic Report - July 2025

POLICY AND ECONOMIC
ROEILPO&RGTAS MARKET

dropped by an average of $23.15/b, m-o-m, to $85.31/b. Multiple-region destination grades,
including Arab Light, Basrah Medium, Iran Heavy and Kuwait Export, decreased on average by
$27.83/b, m-o-m, to $91.26/b. Murban crude declined on average by $20.37/b, m-o-m, to
$81.80/b, and the Merey component dropped by $11.64/b, m-o-m, to settle at $71.13/b.

Brent crude ranged an average to $83.82 a barrel and WTI ranged to $78.51 per barrel in the
month of July 2026.

Figure 18: Benchmark price of Brent, WTI and Dubai crude

125
115
105

95
85
75
65
55
45
35
25

Brent Spot Price ($/bbl) WTI Spot Price ($/bbl) Dubai spot price ($/bbl)

Source: World Bank

• Brent crude price averaged $83.82 per bbl in July 2026, down by 3.7% on a month on month
(MoM) and up by 21.2% on year on year (YoY) basis, respectively.

• WTI crude price averaged $78.51 per bbl in July 2026, down by 6.7% on a month on month
(MoM) and up by 17.0% on year on year (YoY) basis, respectively.

• Dubai crude price averaged $74.69 per bbl in July 2026, down by 15.5% on a month on month
(MoM) and up by 9.4% on year on year (YoY) basis, respectively.

Table 3: Crude oil price in July, 2026

Crude oil Price ($/bbl) MoM YoY
(%) change (%) change
Brent 83.82
WTI 78.51 -3.7% 21.2%
Dubai 74.69 -6.7% 17.0%
Source: World Bank -15.5% 9.4%

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