COMMODITY
Crude oil futures settle higher on Thursday
Jun-06-2025

Crude oil futures settled higher on Thursday after U.S. President Donald Trump said that Russian President Vladimir Putin was not ready for an immediate peace in Ukraine and is planning to retaliate for Kyiv's drone attack on his country's bomber fleet. Besides, investors looked past concerns about oversupply, with Saudi Arabia pushing for a major increase in oil production and slashing prices for Asian buyers, signaling weaker demand.

Benchmark crude oil futures for July surged $0.52 or 0.83% at $63.37 a barrel on the New York Mercantile Exchange. Brent crude for August delivery gained $0.48 or 0.74% to settle at $65.34 a barrel on London's Intercontinental Exchange.

  RELATED NEWS >>