Oil Prices Spike Amid Israel-Iran Tensions: Markets Brace for Disruptions
On June 13, 2025, oil prices rose sharply following Israel’s airstrikes on Iran, which targeted military locations and nuclear sites. Brent crude shot up more than 9%, reaching around $75.65 per barrel, while U.S. West Texas Intermediate climbed about 9.5% to $74.47. This is the biggest single-day jump since the 2022 Russian-Ukrainian war.
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