US EditionOil Prices Fall Sharply After Iran Strikes US Base in Qatar
- On June 23, 2025, Iran fired six missiles toward the U.S. military’s Al Udeid Air Base located in Qatar, responding to recent American attacks on Iranian nuclear facilities.
- Iran's attack followed U.S. weekend strikes on three nuclear facilities, and the missile strike was reportedly signaled in advance to Qatari officials.
- The attack caused no damage to the well-defended Al Udeid base, and no American casualties were reported; meanwhile, global oil prices fell sharply over 6%.
- John Kilduff called Iran's action a "face-saving measure" that was "somewhat measured" and unlikely to disrupt oil flows, while Brent crude dropped 8.3% to $70.62 a barrel.
- The incident reduced fears of wider regional escalation and oil supply disruption, but heightened shipping risks remain at the Strait of Hormuz amid ongoing Middle East tensions.
46 Articles
46 Articles
Crude Oil Prices Plunge in Response to Restrained Iranian Retaliation, Ceasefire News
Last week, the markets got quite a scare. US forces, joining the Israelis, bombed Iranian nuclear facilities where the Islamist regime was suspected of developing a nuclear bomb. Fearing a large-scale conflict that could damage the energy infrastructure in Iran, the seventh largest oil producer in the world, crude oil prices jumped around 10 per cent in the commodity markets. The WTI Crude, produced in West Texas, went up to $71.29 a barrel the …
Oil Prices Drop as Iran's Retaliation Leads to Ceasefire
Oil prices dropped sharply on Monday after Iran’s limited response to U.S. airstrikes and the announcement of a ceasefire between Iran and Israel eased concerns over potential disruptions to global oil supplies. Following U.S. airstrikes on Iranian nuclear facilities, Iran launched missiles at the Al Udeid Air Base in Qatar. All missiles were intercepted, and no casualties were reported. The absence of significant damage or escalation led to a 7…
Oil Prices Fall As Iran’s ‘Weak’ Retaliation Gives Way To Ceasefire
Oil prices fell Monday after Iran’s casualty-free attack on a United States military base in Qatar, with investors hoping the attack signals the limits of Tehran’s retaliatory ability.Prices spiked 6% after Iran threatened to close the Strait of Hormuz in response to President Donald Trump’s announcement that the United States had bombed an Iranian nuclear facility. Some 20% of the world’s daily oil supply passes through the strait, according to…
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