New york: The price of Brent crude for June 2026 delivery increased by 7.78% to $109.03 per barrel during trading on the ICE London intercontinental exchange, APA-Economics reports. The price of WTI crude for May 2026 delivery on the New York Mercantile Exchange (NYMEX) also rose by 11.42% to $111.54 per barrel.

According to Azeri-Press News Agency, the significant rise in crude oil prices reflects ongoing shifts in the global energy market. The increase in prices for both Brent and WTI crude highlights potential impacts on various sectors, including transportation and manufacturing. The trading activities in these exchanges indicate a growing demand for crude oil, which may influence future economic strategies and policies globally.