Oil Prices Rise: Brent Surges 4.90% to $97.65, West Texas Intermediate Follows Suit
News Context
At a glance
- Brent crude oil rose 4.90% to $97.65 and West Texas Intermediate (WTI) climbed 4.88% to $94.96 on June 8, 2026.
- The jump in commodity prices is attributed to the escalation of conflict between Israel and Iran.
- By 11:00 AM on June 8, 2026, the Brent benchmark reached $97.65.
Brent crude oil rose 4.90% to $97.65 and West Texas Intermediate (WTI) climbed 4.88% to $94.96 on June 8, 2026. The price surge follows an exchange of strikes between Israel and Iran, according to reporting from Allnews.
Why did oil prices rise on June 8, 2026?
The jump in commodity prices is attributed to the escalation of conflict between Israel and Iran. Market volatility increased as the two nations exchanged strikes, triggering immediate gains in global oil benchmarks.
What are the current prices for Brent and WTI?
By 11:00 AM on June 8, 2026, the Brent benchmark reached $97.65. At the same time, the U.S. benchmark, West Texas Intermediate, rose to $94.96.