Live Update
From the Liveblog of
Monday, June 1, 2026
Oil prices up over 5% on fresh US-Iran tensions
Oil prices have surged again today 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 13:30 GMT, the price of Brent North Sea Crude for August delivery was up 4.9 percent at $95.60 a barrel, after briefly rising above 5%. Its US counterpart, West Texas Intermediate crude for July delivery, was up 5.9% at $92.55.
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