International benchmark Brent crude futures for July rose 1.81% to trade at $111.27 per barrel, while US West Texas Intermediate futures (WTI) for June gained 2.15% to $107.69 per barrel as investors weighed President Trump's latest message to Iran.
In a post on his Truth Social platform, he said on Sunday: “For Iran, the Clock is Ticking, and they better get moving, FAST, or there won’t be anything left of them. TIME IS OF THE ESSENCE!”
Washington has been locked in a conflict with Tehran since US and Israeli forces launched major strikes on the Islamic republic at the end of February. Since then, little progress has been made on ending the war that has sent global energy prices soaring.
A drone strike over the weekend on a United Arab Emirates’ nuclear power plant further added to worries over a potential escalation in the conflict.
Asia-Pacific markets fall
