Global Oil Prices Strengthen Today to US$73.84 per Barrel (Monday, June 21, 2021)

Yosepha Pusparisa 21/06/2021 11:50 WIB

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Global oil prices rose in trading on Monday, June 21, 2021, until 10:51 WIB. Brent crude traded at US$73.84/barrel, while WTI was priced at US$71.69/barrel.

Global Crude Oil Price (June 21, 2021, 10:51 WIB)

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Global Oil Prices Strengthen Today to US$73.84 per Barrel (Monday, June 21, 2021)

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Global Crude Oil Price (June 21, 2021, 10:51 WIB)

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Global oil prices rose at the beginning of this week. In trading on Monday (June 21, 2021) until 10:51 WIB, Brent crude oil was priced at US$73.84/barrel, up 0.22% from the previous trading day. Meanwhile, West Texas Intermediate (WTI) crude oil strengthened by 0.27% to US$71.69/barrel.

Citing Investing.com, the positive outlook for fuel demand has benefited Brent and WTI prices over the past four weeks. This condition is driven by the ongoing COVID-19 vaccination program and the ongoing summer holidays.

Meanwhile, negotiations between world leaders and Iran to reactivate the 2015 nuclear deal are stalled. This is because Judge Ebrahim Raisi won the Iranian presidential election held last week. This pause will last approximately 10 days. According to ANZ records, the Iranian oil market is unlikely to impact market prices in the near future.

[Read: Global Oil Prices Strengthen, Surpassing US$73.05 per Barrel (Monday, June 14, 2021)]

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."