BlockBeats News, June 3rd, influenced by the escalating US-Iran tensions and uncertain negotiation prospects, international oil prices rose on Wednesday. In particular, WTI crude oil futures for July delivery rose over 1% to $94.81 per barrel, and Brent crude oil futures for August delivery rose by 0.88% to $96.84 per barrel.

The US Central Command stated that the US military shot down multiple Iranian missiles and drones, and conducted defensive strikes against Iranian targets. Meanwhile, Trump and US Secretary of State Pompeo stated that US-Iran negotiations are still ongoing, with Iran potentially willing to negotiate certain aspects of its nuclear program. However, Iranian media had previously reported a lack of communication between the two sides for several days and suggested that Tehran might consider seeking a complete closure of the Strait of Hormuz.

Fitch Group analysts pointed out that the US-Iran conflict has caused significant damage to the Middle East oil and gas industry, with billions of dollars in losses due to disrupted exports, production shutdowns, and repeated attacks on infrastructure, with Qatar, Bahrain, and Iraq experiencing the most severe impact.