The Financial Post reports in its Wednesday, June 4, edition that oil prices rose for a second day, with Brent near $65 (U.S.) a barrel after a 2.9-per-cent increase on Monday. A Bloomberg dispatch to the Post reports that disruptions from wildfires in Alberta have cut nearly 350,000 barrels a day of crude production, surpassing the new supply increase from OPEC. Meanwhile, President Donald Trump stated that the U.S. will not allow uranium enrichment in a potential nuclear deal with Iran. Geopolitical tensions have intensified following Ukraine's drone attack on Russian military targets. Brent rose 4.7 per cent on Monday after OPEC+ increased supply as expected, easing concerns of a larger hike and prompting a reversal of bearish positions. However, oil is still down about 13 per cent this year due to the producer group shifting away from curbing output to defend prices and worries that trade wars will impact demand. PVM analyst Tamas Varga says: "We would expect yesterday's rally to be transient. ... Yesterday's price rally might have come as a surprise, but the recalibration of the supply/demand balance implies sub $70 (U.S.) prices are justified."