Oil Prices React to Political Tensions

Oil futures experienced a significant 3% increase on Tuesday, a direct response to the escalating threats of sanctions against Iran by the United States. President Donald Trump has issued a stern warning to Tehran, advocating for "maximum pressure" to eliminate Iranian oil exports unless a peaceful and economic agreement is reached.

Market Response

West Texas Intermediate (WTI) for June deliveries saw a 3% rise, trading at $63.81 per barrel by 1:14 pm ET. Shortly after, Brent for July settlements climbed by 2.71%, reaching $66.73 per barrel.