Oil Prices Climb as Geopolitical Tensions Intensify

The ongoing conflicts in the Middle East and Ukraine have led to a significant increase in oil futures, with no immediate resolution in sight. This geopolitical uncertainty has directly impacted global oil markets, causing prices to rise.

Market Reactions

West Texas Intermediate (WTI) for June's settlements saw a 1.30% increase, selling for $63.09 per barrel, while Brent for the same month's deliveries grew by 1.10% to $66.85 per barrel. These figures highlight the market's sensitivity to geopolitical events.