SunSirs: International Crude Oil Futures Close Higher on June 8
June 09 2026 10:32:11 SunSirs (Selena)
On June 8, international crude oil futures closed higher. The settlement price for the U.S. WTI crude oil futures contract for July delivery rose by $0.76 (0.8%) to $91.30 per barrel. The settlement price for the Brent crude oil futures contract for August delivery increased by $1.16 (1.3%) to $94.25 per barrel.
The rise in international crude oil futures—with the U.S. WTI July contract up 0.8% and the Brent August contract up 1.3%—directly benefited crude oil spot and futures prices, providing upward support to oil prices.
As crude oil is the core feedstock for gasoline production, the increase in international oil prices drove up production costs, providing bullish support for gasoline spot and futures prices.
Crude oil serves as the upstream feedstock for diesel; the rise in international crude oil prices increased diesel production costs, thereby supporting diesel prices.
Asphalt is a downstream refined product of crude oil; rising crude oil prices increased asphalt production costs. Coupled with the strong performance of asphalt futures, this provided bullish support for both asphalt spot and futures prices.
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