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Impact of Iran-Israel Conflict on Oil Could Last for Years
- On June 22, 2025, the United States launched coordinated airstrikes destroying three Iranian nuclear sites, escalating the Israel-Iran conflict.
- The strikes followed rising tensions after Israel's June 13 attacks on Iran and a shift from proxy to direct confrontation following the 2023-2024 Gaza War.
- The conflict has sparked concerns about a potential shutdown of the Strait of Hormuz, a crucial passageway responsible for transporting one-fifth of the world's oil, contributing to an approximate $10 increase in crude oil prices compared to early June.
- Goldman Sachs forecast a $10 crude price increase and warned the recession risk remains at 30% if the strait closes, while JPMorgan noted a 75% oil price spike is possible in a worsening scenario.
- The conflict risks prolonging global economic instability and inflation, with experts urging regions like Africa to proactively manage domestic impacts amid potential energy price and trade disruptions.
28 Articles
28 Articles
In a Prolonged Israel-Iran Conflict, Russia’s Economy Stands to Reap the Benefits
Oil prices remain volatile as the escalation between Israel and Iran threatens to spill over onto a regional scale. While this instability boosts Russian coffers, the extent of the gains depends on how long the conflict lasts and how intense it is.
'Adds to level of uncertainty.' Markets fret about oil, interest rates with Israel-Iran conflict
A ceasefire between Israel and Iran might take some pressure off oil markets. But there are still ways Iran could disrupt the global economy. Justin Wolfers and Bharat Ramamurti discuss the economic risks ahead on The Eleventh Hour.
The threat of an Israeli or U.S. attack on Iran has weighed on the oil markets for decades. However, now that it has happened, the market seems insecure in its attempts to discount the implications for energy, the Financial Times said. So far, supply disruptions have been minimal and the oil market has been minimally affected by the ongoing conflict.
Africa: Israel-Iran Conflict May Take Toll On Global Peace, Oil Prices, Experts Warn
As the war between the State of Israel and the Islamic Republic of Iran enters its tenth day, experts on global affairs have warned that further escalation of the conflict has the potential of disrupting trade routes, affect oil prices and disturb world peace as more alliances are beginning to manifest with a threat of a looming "Third World" War.
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Bias Distribution
- 45% of the sources lean Left, 45% of the sources are Center
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