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Impact of Israel-Iran Conflict on Global Oil Markets
2025-06-17 16:55:09
Asia
Business
Finance

Impact of Israel-Iran Conflict on Global Oil Markets

The escalating conflict between Israel and Iran has triggered significant turmoil in global oil markets. Brent crude oil prices surged nearly 7%, reaching $74.60 per barrel as fears of a potential blockade of the Strait of Hormuz loom.

This crucial waterway, through which a third of the world's seaborne oil passes, could see prices spike to $100 or more if Iran decides to close it. The situation is further complicated by Israel's recent airstrikes on Iranian nuclear facilities, which have raised concerns about broader conflict and instability.

With Iran producing 3.3 million barrels of oil daily, any disruption could slash global supply by 20%. Meanwhile, Russia stands to benefit from rising oil prices, bolstering its economy amid the chaos.

Experts caution, however, that the sustainability of these price increases remains uncertain, hinging on the evolving dynamics in the Middle East.

Related news on that topic:

Escalating Tensions: Israel-Iran Conflict Intensifies

The ongoing conflict between Israel and Iran has entered a new phase of heightened military engagement. Israel recently launched a preemptive strike on Iran, targeting key military and nuclear sites, claiming the need to prevent Iran from acquiring nuclear weapons. The Israeli offensive included a significant strike on Iran's uranium enrichment facility at Natanz, causing extensive damage to infrastructure and centrifuges. In a retaliatory move, Iran launched missile attacks on major Israeli cities, including Tel Aviv and Haifa, causing civilian casualties and destruction. Tehran's response underscores the high-stakes nature of this confrontation, as both nations exchange fierce military blows. The conflict has also seen Israel targeting Iranian leadership, with reports of several high-ranking Iranian military officials being killed in Israeli airstrikes. Supreme Leader Ayatollah Ali Khamenei's inner circle has been severely impacted, diminishing Iran's strategic capabilities. On an international level, the crisis has drawn varied responses. While the United States has been urged to intervene diplomatically, Washington has so far refrained from military involvement, despite calls from Israeli Prime Minister Benjamin Netanyahu for support. Meanwhile, global powers including China and Germany have urged both countries to de-escalate the situation to avoid further humanitarian disaster. The ongoing hostilities have strained Iran's regional alliances, with traditional allies like Syria remaining silent, reflecting shifting political dynamics in the Middle East. The prolonged conflict continues to pose significant risks, with potential repercussions for regional and global stability. As tensions escalate, the international community watches closely, hoping for a peaceful resolution to this volatile situation.

Escalating Tensions Between Israel and Iran

The conflict between Israel and Iran has reached a critical point, marked by a series of aggressive military actions and heightened tensions. Israel, concerned about Iran's nuclear ambitions, has launched multiple attacks on Iranian military and nuclear sites, including the Natanz uranium enrichment plant. These actions have prompted Iran to retaliate with missile strikes targeting Israeli regions, escalating the conflict further. The situation has drawn international attention, with various global powers stepping in to voice their positions. The United States has distanced itself from the Israeli attacks, emphasizing its non-involvement while urging diplomatic negotiations. Meanwhile, President Trump has proposed a diplomatic approach, offering to meet with Iranian officials in hopes of reviving nuclear talks. However, the failure of these negotiations has led to increased hostilities. Iran has threatened to withdraw from the nuclear non-proliferation treaty if the attacks continue, raising fears of a broader conflict and potential nuclear escalation. The international community, including the G7, has called for a de-escalation of hostilities, recognizing Israel's right to self-defense while urging a peaceful resolution. Despite the intensified military actions, diplomatic efforts continue in the background, with leaders from various countries attempting to mediate the crisis. The situation remains volatile, with the potential for significant implications in the Middle East and beyond. As both nations persist in their military campaigns, the world watches closely, hoping for a peaceful resolution to the conflict.

Read 52 more recent news on this topic

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zeenews
17. Juni 2025 um 01:32

Markets On Edge, Skies Closed, Oil Rising: What A Full-Blown Iran-Israel War Could Do To The Global Economy

The recent Israel-Iran conflict has sent shockwaves through global markets. Brent crude oil price shot up to $74.60 per barrel, a nearly 7% increase from Thursday's level. This surge is largely due to the fact that one-third of the world's seaborne oil passes through the Strait of Hormuz, which connects Iran and the Gulf nations. A top Iranian lawmaker, Esmail Kosari, confirmed that Tehran is considering closing this critical waterway, a move that could spike oil prices to $100 per barrel or m..
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If Iran blocks the Strait of Hormuz, the global oil supply will decrease by 20 percent. Is a new oil crisis looming?
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Middle East Escalation Playing into Putin's Hands – Russia Oil Profits More

The Middle East escalation is driving up oil prices. Kremlin dictator Vladimir Putin profits from it, as Russian oil becomes more expensive. Israel has carried out a targeted attack on Iran after the latter began creating its own atomic weapons. US President Trump's decision not to veto the attack is another factor for the rise in oil prices. An Iranian blockade of the Strait of Hormuz would pose a threat to global oil security.
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Mapping Iran’s oil and gas sites and those attacked by Israel

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