Global Oil Prices Rise Amid Renewed U.S.-Iran Tensions; WTI Up 2.1%

International oil prices rose on June 10, local time, as tensions between the United States and Iran escalated once again.

On the same day, the closing price for Brent crude futures for August delivery on the London ICE Futures Exchange rose 1.80% from the previous session to $93.10 per barrel.

At the New York Mercantile Exchange, the closing price for West Texas Intermediate (WTI) crude futures for July delivery rose 2.07% from the previous session to $90.03 per barrel.

U.S. President Donald Trump's strong military warning toward Iran drove the rise in oil prices.

President Trump warned Iran on Truth Social that it would "pay a price," and later told reporters that he would "hit Iran harder today."

Iran also announced its intention to respond strongly.

In response to President Trump's threats, Iranian President Masoud Pezeshkian emphasized on X (formerly Twitter) that the remarks were "merely a sign of desperation," adding that Iran would "stand firmly against any pressure or threat."

The market is concerned about the possibility of a clash between the two sides.

Regarding the situation, Jed Ellerbrook of the asset management firm Argent Capital Management stated that it "carries significant weight," predicting that oil prices are highly likely to surge if there are disruptions in the Strait of Hormuz or if a war becomes prolonged.
※ Please note: This article was translated by AI and may contain errors.