NEW YORK, June 26 (Xinhua) -- Crude oil futures prices posted modest gains on Monday as market participants digested military tensions in Russia.
The West Texas Intermediate (WTI) for August delivery increased by 0.21 U.S. dollars, or 0.30 percent, to settle at 69.37 dollars a barrel on the New York Mercantile Exchange. Brent crude for August delivery picked up 0.33 dollars, or 0.45 percent, to settle at 74.18 dollars a barrel on the London ICE Futures Exchange.
"WTI oil gains some ground as traders react to the recent turmoil in Russia. Russia's oil exports were not hit and the situation stabilized quickly, but the market sentiment remains bullish," said Vladimir Zernov, analyst with market information supplier FX Empire.
Over the weekend, Russia's National Anti-terrorism Committee announced that a counter-terrorist operation regime was introduced around Moscow and in the Voronezh region to prevent possible terrorist acts after Yevgeny Prigozhin -- head of Russia's Wagner private military group -- was accused of attempting to launch an armed rebellion.
Late Saturday, Moscow and Prigozhin reached a compromise following mediation efforts by Belarusian President Alexander Lukashenko.
The situation in Russia is still an important reminder to investors that "an unpredictable war is ongoing and geopolitical risks are elevated at a time when they have not been a central focus of market attention," UBS said in a research note on Monday.
