Crude Prices Inch Up as Investors Watch Trump’s Moves on Russia & Iran

Oil prices edged higher on Monday as traders monitored potential U.S. actions against Russian and Iranian crude. Brent crude futures for June rose $0.43 (0.59%) to $73.19 per barrel, while WTI gained $0.47 (0.68%) to $69.83 per barrel.

Markets reacted to former U.S. President Donald Trump's threats of secondary tariffs on Russian oil buyers and possible military action against Iran if it refuses a nuclear deal. However, analysts suggest Trump may not follow through, limiting the impact on prices.

Despite early losses, crude stabilized as traders assessed the risk of escalating geopolitical tensions. While China and India remain key buyers of Russian oil, their stance will be critical in determining the effectiveness of any future sanctions.

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