On May 12, amid uncertainty over the prospects of U.S.-Iran negotiations and heightened market concerns about crude oil supply, international oil prices rose sharply during European trading hours, with U.S. crude breaking through the $100 per barrel threshold. As of 20:50 Beijing time on May 12, the price of light crude oil futures for June delivery on the New York Mercantile Exchange was reported at $101.44 per barrel, up 3.44%. The price of London Brent crude oil futures for July delivery was reported at $107.75 per barrel, up 3.40%.
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