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Oil Prices up Amid Iran Conflict
- Oil prices rose sharply on June 25, 2025, after Iran's parliament approved closing the Strait of Hormuz amid escalating conflict in the Middle East.
- The approval reflects mounting tensions following the US and Israeli strikes on Iran's nuclear facilities, heightening fears of supply disruptions in a key global oil route.
- The Strait of Hormuz channels about 20 million barrels daily, nearly one-fifth of global oil shipments, and threats to block it have intensified market uncertainty and price volatility.
- Brent crude rose nearly 2% to $78.53 a barrel and WTI increased over 2% to $75.22, while analysts warn prices could spike above $100 if the strait's closure disrupts flows.
- The situation suggests a new phase of oil market volatility with potential economic repercussions, although some experts note Iran has incentives to avoid a full blockade to protect its interests.
69 Articles
69 Articles
Oil price increases raise concern about Japan's economy
Tokyo, Japan –Rising oil prices following last weekend’s US military strikes on Iranian nuclear facilities have raised concern about possible negative effects on Japan’s economy. Companies and market participants are worried that crude oil prices may shot up further if Iran retaliates by closing the Strait of Hormuz, a vital global oil transportation route, causing
In general, unrest in this region has an immediate effect on the oil price. However, the oil price is not noticeable, it has hardly risen after this weekend.
Petroleum prices are unstable due to the war, with Iran threatening to close Ormuz's tightness in terms of North-American attacks on the Iranian nuclear programme.
Tensions Skyrocket as Oil Prices Surge Amid Middle East Conflict
Oil prices soared to five-month highs following U.S. airstrikes on Iran, escalating Middle East tensions. With fears of supply disruption through the Strait of Hormuz, Brent and WTI crude climbed sharply. Meanwhile, geopolitical tensions rise with Iran and China's reactions, potentially impacting global markets.
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