Canada's recent wildfires have disrupted petroleum supplies, significantly offsetting the impact of OPEC+'s announced production increase. International crude oil prices soared for the second consecutive day on June 3.

West Texas Intermediate (WTI) crude for July delivery increased by US$0.89 (1.42%), reaching US$63.41 per barrel on the New York Mercantile Exchange. Brent crude for August delivery rose by US$1 (1.55%), settling at US$65.63 per barrel.