COMMODITY
Crude oil futures end higher on worries of a deepening US-Iran conflict
Jun-21-2019

Crude oil futures ended higher on Thursday with oil prices scoring their highest settlement this month and posting their biggest one-day gain so far this year, after Iran shot down a US military drone, adding to fears of a deepening conflict and potential disruption to oil supplies. Besides, the Energy Information Administration (EIA) reported that domestic supplies of natural gas rose by 115 billion cubic feet for the week ended June 14. The average forecast by S&P Global Platts had called for an increase of 104 billion cubic feet.

Benchmark crude oil futures for July surged $2.89 or 5.4 percent to settle at $56.65 a barrel on the New York Mercantile Exchange. August Brent rose $2.63 or 4.3 percent to settle at $64.45 a barrel on London's Intercontinental Exchange.

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