Crude oil futures decrease as Saudi Arabia can increase its oil output

Crude oil fell by 1.27%-1.47%

As of 2 June 2022, 08:55 (UTC+3), Brent Crude futures for August settlement were trading 1.27% lower at $114.81 a barrel on the London-based ICE Futures Europe Exchange.

Light Sweet Crude (WTI) futures for July delivery fell by 1.47% to $113.64 a barrel.

Oil prices fell on June 2 after the Financial Times reported Saudi Arabia is prepared to raise crude production if Russian output sinks due to sanctions.