Continued tensions in the Middle East support crude oil prices, and international crude oil prices rose on June 12. The Palestinian armed group Hamas was still meditating on the ceasefire proposal proposed by the United States.

However, the Federal Reserve System (FED) announced on June 12 that it would keep interest rates unchanged for the seventh consecutive meeting. The FED dot plot shows the timing of the first-rate cut this year may be delayed until December.

West Texas Intermediate (WTI) crude for July delivery increased by US$0.60 (0.77%), reaching US$78.50/barrel on the New York Mercantile Exchange. Brent crude for August delivery grew by US$0.68 (0.83%), settling at US$82.60/barrel.