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Oil prices surge 10% after Israel launches unilateral airstrikes against Iran
- Israel launched unilateral airstrikes targeting Iran's nuclear and ballistic missile facilities early on Friday near Natanz.
- The strikes followed rising tensions amid stalled US-Iran nuclear talks and Iran's threats to retaliate and possibly close the Strait of Hormuz.
- The attacks spiked oil prices over 8%, caused a sell-off in stocks including airline shares, and prompted flight diversions in Middle Eastern airspace.
- Prime Minister Netanyahu pledged the operation will continue as long as necessary to eliminate the threat, while analysts called the escalation a blow to risk sentiment.
- The situation is causing concerns about the potential escalation into a broader regional conflict, possible disruption to a significant portion of daily global oil production—up to 20 million barrels—and the risk of U.S. involvement.
80 Articles
80 Articles
Tensions Are Surging Amid Israel-Iran Attacks. So Are Oil Prices
Global oil prices spiked following Israel’s surprise air strikes on Iranian nuclear and military facilities. As of late June 13, futures for the benchmark Brent blend were up more than 7 percent over the previous day, and up 12.5 percent compared to a week earlier. U.S. West Texas Intermediate crude, meanwhile, finished up 7.62 percent—13 percent higher than a week ago. Both blends had their largest intraday moves since 2022 when Russia launched…
Israel's Attack on Iran Bullish for Oil Prices but Unlikely to Last Unless Exports Affected: Report
Get latest articles and stories on Business at LatestLY. Israel's surprise airstrikes on Iranian nuclear sites have rattled global energy markets, sending oil prices soaring and raising concerns about wider regional instability. Business News | Israel's Attack on Iran Bullish for Oil Prices but Unlikely to Last Unless Exports Affected: Report.
Israel's attack on Iran has spooked the financial markets, fearing a regional conflict with negative effects on oil supply, and the world is already struggling with Trump's tariffs.
This Friday, June 13, the main stock indexes in the United States closed the day with falls as a result of the aversion to global risk due to the conflicts in the Middle East and the expectation of their evolution this weekend.The Nasdaq closed downwards with 1.30 percent, at 19 thousand 406,83 points, while the S&P 500 dropped 1.13 percent, at a level of 5,976.97 integers, while the Dow Jones ended with a fall of 1.79 percent in the 42 thousand…
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