Oil Prices Climb As Us Strikes Iran's Nuclear Facilities

Crude lipid prices roseate aft nan United States launched strikes connected Iran's atomic accommodation connected Sunday, June 22, marking an escalation successful nan ongoing Middle East conflict. The onslaught ended days of speculation complete whether nan Donald Trump-led management would measurement successful to support Israel successful nan ongoing 10-day conflict.

Last checked, world benchmark Brent crude futures roseate 0.40 per cent aliases 31 cents to $77.32 a barrel, while US West Texas Intermediate (WTI) crude gained 0.73 per cent aliases 54 cents to $74.04 per barrel.

This past week, nan White House had indicated that US President Donald Trump was weighing a determination connected Iran strikes. However, Sunday's targeted action has formed uncertainty connected nan likelihood of talks successful nan adjacent term.

The US President stated that nary further subject action is planned "for now". Despite nan assurance, markets stay wary of a broader escalation, peculiarly fixed Iran's strategical value successful world lipid supply.

Iran contributes astir one-third of nan full output by OPEC+ and stands arsenic nan group's third-largest producer. Any disruption successful its proviso could importantly effect world power markets, particularly if Tehran chooses to retaliate aliases threatens to adjacent nan Strait of Hormuz -- a captious shipping lane done which astir 20 per cent of nan world's lipid passes.

Crude lipid continues to witnesser heightened volatility, pinch prices swinging sharply successful consequence to developments and charismatic statements surrounding nan Israel-Iran conflict, noted Rahul Kalantri, VP Commodities astatine Mehta Equities.

"Markets stay jittery arsenic risks of proviso disruptions from Iran and broader conflict escalation loom large. Geopolitical tensions and proviso fears proceed to support lipid prices contempt impermanent pullbacks," he added.

Equity investors are expected to intimately show lipid value trends, which person been rising for nan past 3 weeks. Attention will besides stay connected imaginable retaliatory moves from Iran that could further unsettle markets successful nan adjacent term.

Published on: Jun 22, 2025 11:32 AM IST