The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
Yesterday’s private survey showed larger-than-expected cut in oil output.
The release of crude oil inventories earlier today showed a surprise increase in the number of barrels.
The yellow metal reached the highest levels in 6 years amid the global risk aversion.
The yellow metal could not stay for a long time near the $1,401 level.
The organization of the petroleum exporting countries (OPEC) and non-OPEC oil producers (Russia) will meet on July 1-2.
The dovish Fed pushed the price for the yellow metal up.
The price for the yellow metal has crossed the level at $1,341.
Find out the main drivers for this week
The price for WTI has risen to its highest levels since the beginning of May.