economy
Texas oil rises 4.19%, reaching $102, amid lack of US-Iran agreement
West Texas Intermediate (WTI) crude oil rose 4.19% on Tuesday, reaching $102.18 per barrel, driven by the lack of a peace agreement between the United States and Iran, after the optimism that drove crude prices down last week dissipated. At the end of the session, WTI futures contracts for June, the benchmark crude in the United States, added $4.11 compared to the previous close, when it already registered an increase due to President Donald Trump's rejection of Tehran's latest proposal. EFE
TL;DR
- WTI crude oil rose 4.19% to $102.18 per barrel.
- The price increase was driven by the lack of a peace agreement between the US and Iran.
- Optimism from the previous week, which had lowered crude prices, dissipated.
- WTI futures for June added $4.11 from the previous close.
- The increase was also influenced by President Donald Trump's rejection of Iran's latest proposal.