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18 April 2024

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Oil climbs after Iran's president dies

20-05-2024 10:32 AM


Ammon News - Oil prices extended gains on Monday amid political uncertainty in major producing countries after Iran's president died in a helicopter crash.

Brent gained 41 cents, or 0.5%, to $84.39 a barrel by 0632 GMT, after rising to $84.43 earlier, its highest since May 10.

U.S. West Texas Intermediate (WTI) crude for June edged up 23 cents to $80.29 a barrel, after hitting $80.35 earlier, the highest since May 1.

The June contract expires on Tuesday and the more-active July contract was at $79.89, up 31 cents, or 0.4%.

Iranian President Ebrahim Raisi was killed in a helicopter crash in mountainous terrain near the Azerbaijan border, officials and state media said on Monday.

Reuters




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