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2025.06.1715:00:15UTC+00Oil Rises by Over 2%

WTI crude oil futures experienced a significant rise of over 2.5%, reaching $73.6 per barrel on Tuesday, nearing a five-month peak. This surge is attributed to rising geopolitical tensions between Israel and Iran. On Monday, President Donald Trump called for the evacuation of Tehran following intensified Israeli airstrikes targeting Iran’s capital, which included strikes on state media facilities. These aggressive actions came despite reports suggesting Iran is urgently signaling a desire to conclude hostilities and return to negotiations regarding its nuclear ambitions. This development has somewhat alleviated concerns over the conflict, contributing to a volatile trading session on Monday, with oil prices fluctuating within an $8 range before ultimately closing lower. Concurrently, market participants are also dealing with the potential imposition of new tariffs by President Trump in the weeks ahead, along with OPEC+'s rapid escalation of production quotas, both of which could have a significant impact on the oil market.

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