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Global Crude Oil Rises Overnight, WTI Up 1.33% to $93.39/Barrel Amid Supply Concerns

Commodities Metals

2026-06-02 23:29:54

According to Jin10 Futures, crude oil and precious metals rose overnight on June 3 as market concerns over supply disruptions intensified. WTI crude rose 1.33% to $93.39 per barrel, while Brent crude climbed 1.01% to $95.94, driven by a larger-than-expected decline in U.S. API crude inventory last week and mounting geopolitical tensions in the Middle East. Iran suspended U.S. negotiations and plans to block the Strait of Hormuz, which handles approximately 20% of global crude oil shipments. COMEX gold futures gained 0.29% to $4,519.20 per ounce, supported by safe-haven demand, though rising interest rate expectations limited broader gains. U.S. equities edged higher, with the S&P 500 up 0.13% and the Dow up 0.45%, while European indices also posted modest gains.

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