Oil prices climb as US, Iran exchange attacks

Published June 1, 2026 Updated June 1, 2026 05:04pm

Oil prices have risen as renewed tensions in the Middle East heighten concerns over potential supply disruptions, Anadolu reports.

International benchmark Brent crude is trading at $93.89 per barrel at 0710 GMT, up around 2.9 per cent from the previous close of $91.12.

Meanwhile, the US benchmark West Texas Intermediate has increased about 3.4pc to $90.19 per barrel, compared with $87.3 in the previous session.

The gains came after the US and Iran exchanged attacks over the weekend, fueling fears that the conflict could spill over into key energy-producing and shipping regions.

Opinion

Editorial

Budget concerns
Updated 01 Jun, 2026

Budget concerns

Mistaking IMF compliance for sound economic management is what is driving the economy into deeper stagnation.
Gaza’s tragedy
01 Jun, 2026

Gaza’s tragedy

HISTORY may record this as one of the most brazen deceptions of our time. President Donald Trump’s so called Board...
New sports policy
01 Jun, 2026

New sports policy

BETTER sense has prevailed with a new national sports policy set to be rolled out, thus preventing a clash between...
The heat ahead
Updated 31 May, 2026

The heat ahead

Planning for hotter conditions is increasingly becoming a question of public health, economic resilience and public safety.
Dimming hopes
31 May, 2026

Dimming hopes

THE National Assembly opposition leader’s recent warning should give the ruling parties some pause. Once again, ...
No Tobacco Day
31 May, 2026

No Tobacco Day

THIS year’s World No Tobacco Day theme, announced by the WHO last October, is ‘Unmasking the appeal —...