Oil prices rose about 1 percent in trading on Tuesday, June 17, 2025, amid escalating geopolitical tensions in the Middle East. This came after US President Donald Trump called on everyone to evacuate Tehran, increasing the likelihood of an escalation of the conflict and a disruption to oil supplies from the region.
Brent crude futures rose 0.56 percent to $73.64 per barrel. US West Texas Intermediate crude rose 0.59 percent to $72.19 per barrel. Both crudes had risen by more than 2 percent earlier in the session. Oil prices closed down more than 1 percent on Monday, supported by media reports indicating that Iran was seeking to halt the fighting, which raised hopes for a easing of tensions.
Source (CNBC Arabia, Edited)
