Oil prices rose over 2% on Monday, with Brent crude at $111.5 and WTI at $108.0, driven by geopolitical tensions in the Middle East, including an attack on a UAE nuclear plant and potential US military action against Iran. Efforts to de-escalate the conflict have faltered, keeping oil prices above $100.
Bitcoin's jumped as WTI crude fell 10%, on reports that the U.S. has prepared a on-page memorandum of understanding to end the war in Iran.
Brent crude oil futures for July 2026 delivery on London's ICE rose above $111 per barrel for the first time since April 7, 2026, with prices up 2.81% to $111.27 by 8:36 a.m. Moscow time. WTI crude futures for June 2026 delivery also gained 2.48% to $98.76 per barrel.
Oil prices extended gains on Tuesday as stalled US-Iran peace talks and disruptions to the Strait of Hormuz tightened global supply. WTI Crude rose 0.98% to $97.31 while Brent Crude gained 0.97% to $109.30. The Middle East conflict has now entered its third month, disrupting the strategic waterway that handles 20% of global oil and gas consumption. The US maintains its blockade of Iranian ports while Iran requires vessel approval for Strait passage.
WTI crude futures for June 2026 delivery rose by 2.31%
