US EditionOil rises and US stock futures slide as markets react to US strike on Iran nuclear sites
MIDDLE EAST, JUN 23 – U.S. strikes on Iran's nuclear sites have pushed Brent crude prices up 13% since June 13 amid fears of supply disruptions through the Strait of Hormuz, which handles 20% of global oil.
- 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.
307 Articles
307 Articles
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Uncertainty Plagues World Markets After US Strike on Iran
Global markets are sending mixed signals following U.S. strikes on Iran, reflecting uncertainty among investors, with some stock markets falling and others rising. In a June 21 address at the White House, President Donald Trump said the United States had struck Iran’s nuclear sites. In the United States, the S&P 500 Index was trading at 5,976 on Monday as of 9:40 a.m. EDT, up 0.13 percent from Friday. In Europe, the Stoxx 50 index was trading do…
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