According to a Reuters report, Brent crude prices rose $3.20, or 3.39 percent, to $96.24 a barrel on Monday (June 8). At the same time, US WTI crude prices rose $2.87, or 3.17 percent, to $93.41.
Oil prices fell last Friday on hopes of easing tensions between the United States and Iran. However, oil prices have risen more than 50 percent since March.