Oil prices rise and US stock futures fall due to US strike on Iran nuclear sites

From Yahoo Finance: 2025-06-22 18:09:00

Global markets reacted to the U.S. strike on Iranian nuclear sites, with oil prices rising and U.S. stock futures falling. Brent crude rose 3.3% to $79.60 a barrel, while U.S. crude rose 3.1% to $76.16. The conflict between Israel and Iran has caused oil prices to fluctuate and raised fears of disruption in the global oil supply chain.

Futures for the S&P 500 fell 0.5% and Dow Jones Industrial Average slipped 0.4% after the U.S. strike on Iran. Traders are concerned that Iran could disrupt transit through the Strait of Hormuz, which could spike insurance rates and make shippers nervous. Analysts are unsure if Iran will retaliate by closing the waterway.

Chief market analyst Tom Kloza believes oil futures will eventually ease back down as initial fears subside. Analyst Ed Yardeni also thinks Tehran leaders will likely hold back from major retaliation. However, Houston analyst Andy Lipow warns that if the Strait of Hormuz is shut down, oil prices could soar to $120-$130 a barrel, impacting consumers and the economy.

Read more: Oil rises and US stock futures slide as markets react to US strike on Iran nuclear sites