WTI Crude Oil Price Surges to $71.51 Amid Bullish European Open

WTI Crude Oil Price Rallies to $71.51 in Early European Session

The West Texas Intermediate (WTI) crude oil price surged in early Friday trading during the European session, marking strong bullish momentum. WTI is currently priced at $71.51 per barrel, sharply higher than Thursday’s close of $67.58.

This rally is likely driven by a mix of supply-side concerns and geopolitical risk premium, particularly with the ongoing tensions in the Middle East and speculation of disrupted oil flows.

Brent Crude Also Rises to $73.48

Similarly, Brent crude oil—the global benchmark—followed suit, jumping from Thursday's level of $69.71 to trade at $73.48 per barrel.

This synchronized climb in both WTI and Brent underscores heightened market demand and investor risk aversion, prompting buyers to hedge against potential energy shortages.

Oil Market Overview

• WTI: $71.51 (↑ from $67.58)
• Brent: $73.48 (↑ from $69.71)
• Session: European Morning – Friday, June 13

Related: USD/CAD Edges Higher as Oil Rebounds Amid Middle East Tensions

Outlook

With continued global focus on geopolitical events and central bank rate paths, oil prices could stay elevated. A decisive break above $72.00 for WTI might trigger a test toward the $75.00 mark in the near term.