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Oil prices up over 5% on fresh US-Iran tensions

BSS
Published On: 01 Jun 2026, 20:23

    
LONDON, June 1, 2026 (BSS/AFP) - Oil prices surged Monday after Iran said it suspended all exchanges with Washington following days of inconclusive talks to end the war, and the two nations again traded strikes.

At around 1330 GMT the price Brent North Sea Crude for August delivery was up 4.9 percent at $95.60 a barrel, after briefly rising above 5 percent. Its US counterpart, West Texas Intermediate crude for July delivery, was up 5.9 percent at $92.55.
 

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