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Brent crude surpasses $97 amid renewed U.S.-Iran tensions

Brent crude surpasses $97 amid renewed U.S.-Iran tensions
# 03 June 2026 08:59 (UTC +04:00)

Oil prices have exceeded $97 in commodity markets, APA-Economics reports.

Oil prices posted gains on global markets.

The price of WTI crude oil for July delivery on the New York NYMEX commodity exchange increased by 1.30%, or $1.22, to $94.98 per barrel.

Meanwhile, the price of Brent crude oil for August delivery on the London ICE exchange rose by 1.14%, or $1.09, to $97.09 per barrel.

The price increase was driven by renewed tensions between the United States and Iran, ongoing risks to energy supplies in the Middle East, and investor concerns over possible supply constraints.

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