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Oil rises and US stock futures slide as markets react to US strike on Iran nuclear sites

  • Overnight, U.S. military forces launched strikes on three Iranian nuclear sites, prompting a cautious reaction in global markets in New York.
  • These strikes followed an earlier Israeli attack on June 13, heightening tensions in the ongoing conflict between Israel and Iran and raising concerns about oil supply disruptions.
  • Despite the geopolitical incident, oil prices rose modestly with Brent crude up 2.6% to $79 a barrel, while U.S. stock futures declined slightly amid apprehensive investor responses.
  • Tom Kloza noted traders awaited signs of Iran disrupting the Strait of Hormuz, which channels nearly 20% of global oil, before factoring major risks into prices.
  • Analysts suggest Iran is unlikely to fully close the strait, but if it does, oil could surge to $120-$130 a barrel, severely impacting consumers and global markets.
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Last weekend, the U.S. carried out an attack on Iran, focused on nuclear sites. Iran, in response, reported that this attack expanded the range of targets that its armed forces consider legitimate. The political situation became even more tense when Iran called U.S. President Donald Trump "apostor" for joining Israel's military campaign against the Islamic Republic. According to the original report, Trump mentioned that he had "obliterated" Iran…

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Time Magazine broke the news in United States on Saturday, June 21, 2025.
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