MOSCOW: The price of futures contracts of Brent crude oil for June 2026 delivery on London’s ICE has grown by more than 6.5% following US P...
MOSCOW: The price of futures contracts of Brent crude oil for June 2026 delivery on London’s ICE has grown by more than 6.5% following US President Donald Trump’s televised address to his fellow citizens dedicated to the US-Israeli operation in Iran, according to trade data.
As of 3:55 a.m. Moscow time (12:55 a.m. GMT), before Trump’s speech, the Brent price was down by 1.35% at $99.79 a barrel. By 4:33 a.m. Moscow time (1:33 a.m. GMT), the price of Brent oil had moved to positive territory, reaching $106.29 per barrel (+5.07%). Meanwhile the price of futures contracts of WTI crude oil for May 2026 delivery was up by 4.09% at $104.21 per barrel.
As of 7:05 a.m. Moscow time (4:05 a.m. GMT), the Brent price was up by 6.51% at $107.75 a barrel, while the WTI price was up by 5.38% at $105.51 per barrel.
The American leader stated in a televised address that the United States is close to achieving the key objectives of the operation against Iran. He noted that the US does not need supplies through the Strait of Hormuz, adding that it is up to the countries that use it for oil transportation to restore shipping through it. Trump also said that the United States will intensify strikes against Iran in the next two to three weeks, and that the Iranian navy and air force have been destroyed.
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