Oil prices continued to rise on global commodity markets, APA-Economics reports.
On London’s ICE exchange, the price of July futures for Brent crude oil increased by 4.25% or 4.30 US dollars to 105.59 US dollars per barrel.
Meanwhile, on New York’s NYMEX exchange, the price of June futures for WTI crude oil rose by 4.73% or 4.51 US dollars to reach 99.93 US dollars per barrel.
According to analysts, the increase in oil prices was influenced by the renewed rise in geopolitical tensions between the US and Iran, as well as expectations of growing supply risks in the Middle East.
