Brent crude edges higher amid geopolitical tensions. US President Trump threatened intensified strikes on Iran if it fails to reopen the Strait of Hormuz, a critical global energy chokepoint. June Brent futures climbed to $109.63, up 0.55 percent, while WTI crude slipped slightly to $111.17. Iran rejected the ultimatum, demanding compensation for war damages before reopening the strait. OPEC+ expressed serious concerns about infrastructure attacks disrupting energy supplies and increasing market volatility. The cartel announced production adjustments of 206,000 barrels daily from existing voluntary cuts, emphasizing the need for stability amid escalating geopolitical risks affecting global oil markets and economic growth.
