Main US oil contract price surges on geopolitical tensions
by Naharnet Newsdesk 02 June 2025, 16:46
Oil prices rose sharply on Monday amid concerns about Russia's war in Ukraine and Iran nuclear talks, along with market relief that OPEC+ did not increase crude production as much as some had feared.
At around 1325 GMT, the U.S. benchmark barrel of West Texas Intermediate for July delivery was up 4.87 percent at $62.75, having briefly exceeded five percent. Brent North Sea crude for August delivery was up 4.51 percent at $65.61 a barrel.
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by Naharnet Newsdesk 02 June 2025, 16:46 Oil prices rose sharply on Monday amid concerns about Russia's war in Ukraine and Iran nuclear talks, along with market relief that OPEC+ did not increase crude production as much as some had feared. At around 1325 GMT, the U.S. benchmark barrel of West Texas Intermediate for July delivery was up 4.87 percent at $62.75, having briefly exceeded five percent. Brent North Sea crude for August delivery was up 4.51 percent at $65.61 a barrel.
