Oil prices expected to rise after US attack on Iran, potentially leading to market instability

From Yahoo Finance: 2025-06-22 11:16:00

Oil prices are set to rise as trading begins this week, with Brent crude currently at $77 per barrel. Following the US attack on Iran, prices could increase by $5 when markets open on Sunday at 11pm UK time. Analysts warn of potential further spikes if tensions escalate and oil infrastructure is targeted.

The increase in oil prices is a result of fears of an escalating conflict in the region, with the vital shipping route of the strait of Hormuz at risk of closure. If Iran retaliates with direct strikes or targets oil infrastructure, prices could surge even higher. The global economy could face high inflation and increased costs for consumers.

If oil prices were to reach $130 per barrel, it would exceed levels seen after Russia’s invasion of Ukraine. The all-time high for Brent crude is $147.50, set in July 2008. Some analysts believe that disruption to shipping routes may be limited, as most of Iran’s oil exports to China pass through the strait of Hormuz.



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