Oil Extends Gains on Weaker Dollar, Geopolitical Uncertainty

Bloomberg · last updated June 2, 2025 – 7:54 PM

Oil rose for a second day as a weakening dollar boosted the appeal of commodities priced in the currency and geopolitical ructions limited the chance of more supply from Russia and Iran.

Brent traded near $65 a barrel after jumping 2.9% on Monday, while West Texas Intermediate traded around $63. A gauge of the dollar was near its lowest since 2023, with Wall Street banks reinforcing their calls that the greenback will decline further.

here today, more tomorrow

We’ve launched briefing.center with a focus on the press and media.

And we’ve added Citizen Cartwright, a daily quick-read news summary by veteran Washington journalist Linda Cartwright. We’ve also created a new voting rights knowledge center for Citizen Cartwright subscribers. (You can sign up for a dedicated morning email at citizencartwright.com.)

You can sign up here for full access to press and media and Citizen Cartwright on briefing.center.

You can use briefing.center as the center of your information management, or just one of your tools. We’re happy to discuss your information needs.