US EditionOil Prices Sustain Months-Long Highs on Fears of US Involvement in Israel-Iran War
- The military hostilities that erupted on June 13, 2025, involving Israel and Iran have heightened fears about potential disruptions to oil transportation through the Strait of Hormuz.
- This concern arises because the Strait of Hormuz, a 29 nautical mile-wide passage between Oman and Iran, channels nearly a third of the world's seaborne oil, including about 20 million barrels daily in 2024.
- Iran controls most islands in the strait, maintains a strong military presence, and the recent conflict has increased electronic interference affecting commercial navigation there, while tanker rates for Middle East to East Asia routes rose almost 20%.
- Brent crude futures surged more than 4% to settle at $76.45 per barrel, while U.S. crude oil benchmark West Texas Intermediate ended the day at $74.84 per barrel, reflecting concerns that the ongoing conflict may threaten supply chains, with analysts warning that up to 14 million barrels daily could be affected.
- If conflict prolongs or Iran closes the strait, it could cause major global market impacts, possibly invite U.S. military action, and threaten Iran's economic ties, especially with Gulf Arab states and its main oil customer, China.
44 Articles
44 Articles
The Herald Palladium
Stocks drop after Fed comments as Mideast fears lift crude
Equities fell Thursday after the Federal Reserve warned Donald Trump's trade war could reignite US inflation and dampen economic growth, while oil rose on Middle East concerns as investors awaited developments in the Israel-Iran conflict.
Major oil price shock looming as Israel-Iran conflict threatens critical global shipping passage
Oil prices could surge to $120 per barrel if the Israel-Iran conflict disrupts supply through the Strait of Hormuz, where almost a third of global seaborne oil trade flows daily.
In a context of increasing volatility, the oil market swings between profits and losses, mainly due to the possibility of the US getting involved in the conflict in the Middle East. According to the original report, the futures of Brent crude exceeded $76 per barrel, a noticeable increase compared to pre-attack values.This rise coincides with tensions in the region and the call of U.S. President Donald Trump to an “unconditional surrender” of Ir…
Colorado Springs Gazette
Colorado PoliticsIran may close Strait of Hormuz amid Israel conflict. How does it affect the world’s oil?
As the conflict between Israel and Iran intensifies, speculation is rising about whether the Iranians will close the Strait of Hormuz, which is critical to the world’s oil production. Two ocean tankers crashed into each other and burst into flames…
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