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Commodities

Putin's Peace Signals Rein in Oil Price Surge Amid US-Iran Tensions

Guavy AI Editorial Team
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Oil
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Oil prices surged on Thursday after US strikes on Iran and renewed Israeli threats against Tehran sparked concerns about Middle East supply disruptions.

The Brent crude futures rose by 15 cents, or 0.16%, to $95.78 a barrel, while the US West Texas Intermediate (WTI) crude futures increased by 63 cents, or 0.69%, to $91.64.

However, Russian President Vladimir Putin's comments signaling openness to peace negotiations with Ukraine helped limit the gains in oil prices.

Putin stated that there was a chance of reaching an agreement to end the war in Ukraine and expressed support from countries including the US and China for a peace settlement.

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