COMMODITY
Crude oil futures settle sharply higher amid escalating Israel-Iran tensions
Jun-18-2025

Crude oil futures ended sharply higher on Tuesday amid escalating tensions between Israel and Iran. Meanwhile, the International Energy Agency's (IEA) monthly report released forecasted the demand estimates to be down by 20,000 barrels per day from last month and supply estimates to be up by 200,000 bpd to 1.8 million bpd.

Benchmark crude oil futures for July surged $3.07 or about 4.28% at $74.84 a barrel on the New York Mercantile Exchange. Brent crude for August delivery jumped $3.22 or 4.40% to settle at $76.45 a barrel on London's Intercontinental Exchange.

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