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Singapore, June 01 (QNA) – Oil prices surged by more than 3% on Monday amid rising geopolitical tensions following the exchange of strikes between the United States and Iran, as well as the thrust of the Israeli occupation forces deeper into Lebanese territory.
Consequently, Brent crude futures rose by USD 2.93, or 3.2%, to USD 94.05 a barrel.
US West Texas Intermediate (WTI) crude futures climbed by USD 3.36, or 3.9%, to USD 90.72 a barrel.
Brent crude had fallen by almost 19% during May, while US West Texas Intermediate (WTI) crude declined by about 17%. (QNA)
