Oil prices extended their surge on Tuesday amid fresh doubts over the U.S.-Iran ceasefire.
Brent crude futures for July delivery were up more than 3 percent at $107.47 a barrel, extending gains from the previous session on concerns that the Strait of Hormuz may stay effectively closed for an extended period. WTI crude futures for June delivery jumped 3.6 percent to $101.55.
Supply concerns returned to the fore after U.S. President Donald Trump said the fragile ceasefire between Washinton and Tehran was on "massive life support."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.