{"id":17100,"date":"2026-06-01T07:37:08","date_gmt":"2026-06-01T07:37:08","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=17100"},"modified":"2026-06-01T07:37:08","modified_gmt":"2026-06-01T07:37:08","slug":"global-crude-oil-prices-today-june-1-2026-brent-crude-rises-to-93-9","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/17100\/","title":{"rendered":"Global Crude Oil Prices Today (June 1, 2026) \/ Brent Crude Rises to $93.9"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Brent crude futures rose $2.78 (up 3.05%) to $93.9 per barrel. U.S. West Texas Intermediate (WTI) crude futures climbed $2.88 (up 3.3%) to $90.24 per barrel.<\/p>\n

According to Roydad Naft, oil prices surged more than 3% on Monday after Iran and the United States carried out mutual strikes, and Israel ordered its forces to push deeper into Lebanon in the ongoing war against Tehran-backed Hezbollah.<\/p>\n

U.S. crude futures rose $2.88, or 3.3%, to $90.24 per barrel (as of 07:01 GMT). Brent futures gained $2.78, or 3.05%, to $93.9 per barrel.<\/p>\n

The clashes dampened hopes for a U.S.-Iran announcement extending the ceasefire, which had come after Washington hosted Israel-Lebanon peace talks on Friday. The ceasefire had caused Brent and WTI prices to drop 1.8% and 1.7%, respectively, on Friday.<\/p>\n

On Sunday, the United States announced it had carried out \u201cself-defense strikes\u201d on radar and drone control sites in Iran\u2019s Goruk region and Qeshm Island, describing the action as a response to Tehran\u2019s \u201caggressive moves.\u201d<\/p>\n

Iran\u2019s Islamic Revolutionary Guard Corps (IRGC) said on Monday that its Aerospace Force had targeted an airbase used by the U.S. in its attack on a telecommunications tower on Sirik Island.<\/p>\n

U.S. President Donald Trump said on Friday that he would soon decide on a proposal to extend the ceasefire announced in early April. The extension would give negotiators more time to work toward a permanent end to the war and resolve the core dispute over Iran\u2019s nuclear program.<\/p>\n

Israel is expected to play a key role in any potential agreement, and Iran has repeatedly insisted that Hezbollah must be included in any deal. A U.S. official said on Sunday that Washington has proposed a \u201cgradual de-escalation\u201d plan, under which Hezbollah would first halt attacks on Israel, in exchange for Israel refraining from escalating tensions in Beirut.<\/p>\n

Tony Seacombe, an analyst at IG, wrote in a note that concerns are growing over mines laid in the Strait of Hormuz \u2014 a vital waterway for oil and gas transport. This could slow the reopening of the strait, and even after reopening, any relief for the oil market would be delayed.<\/p>\n

\u201cEven if a deal is reached, it won\u2019t result in a flood of supply,\u201d Seacombe said.<\/p>\n

An Axios reporter posted on X on Friday that Iran had laid more mines in the Strait of Hormuz earlier in the week. This came shortly after U.S. Defense Secretary Pete Hegseth warned that any further mine-laying would be considered a violation of the ceasefire.<\/p>\n

The Strait of Hormuz carries about one-fifth of global oil and gas flows. Iran has effectively closed it since the start of clashes with U.S. and Israeli attacks on February 28.<\/p>\n

These supply concerns overshadowed China\u2019s weekend economic data, which showed a stall in factory activity. This has heightened worries about the world\u2019s second-largest economy losing momentum amid declining exports and weakening domestic demand.<\/p>\n

Goldman Sachs said on Sunday that weak oil demand in China and Europe poses a significant downside risk to its fourth-quarter price forecasts \u2014 $90 for Brent and $83 for WTI \u2014 although supply disruptions in the Middle East could still push prices higher.<\/p>\n

Updated on