Oil prices rebounded as geopolitical risk was repriced after the U.S. House of Representatives rejected a proposal to withdraw American forces from the confrontation with Iran, reinforcing expectations of a sustained military presence in the region. June Oil – Brent Crude futures advanced 4.7% to about $101.7 per barrel on Thursday evening, while Oil – US Crude initially jumped more than 4% before trimming gains later in the session.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Despite the latest rally, both benchmarks are lower over the past month, with Brent down roughly 3.8% and WTI off about 3.6%, signaling that broader supply-demand concerns and global growth fears continue to temper war-risk premiums. Short-term technicals point to a mixed outlook, with Brent showing a 1-day Buy indication, while WTI is rated Hold, suggesting traders remain cautious about the durability of the move.
Investors can explore more updates, prices, and analysis across global markets at Commodities.