Crude oil futures continued to rise during the Asian session, with New York oil and Brent oil each up over 1%
U.S. President Trump and Iranian President Ebrahim Raisi have both expressed a willingness for a ceasefire, but crude oil futures rose this morning (1st) during the Asian session.
Brent crude for June delivery rose by $1.66 or 1.6%, settling at $105.63 per barrel. May futures settled at $118.35 per barrel. New York May crude rose by $1.54 or 1.5%, settling at $102.92 per barrel.
Brent spot crude rose over 60% last month, marking the largest monthly increase since 1988. New York crude rose 51% last month, the largest monthly increase for spot contracts since May 2020
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