From Investing.com: 2025-06-18 02:25:00

Energy markets are closely watching the Israel-Iran conflict for any disruptions in oil flows through the Strait of Hormuz. Oil prices are near a five-month high, up 10% since the conflict began. Concerns linger over a potential shutdown of the Strait, which could push prices to $120/bbl and impact global oil trade.

In the metals market, iron ore prices have dropped below $93/t due to slowing demand in China. Weakness in China’s property market, with declining new-home prices and starts, is suppressing steel demand. China’s focus on clearing property inventories rather than boosting new construction is limiting the impact on steel demand. Steel output in May was also lower than last year.



Read more at Investing.com: Oil Rally May Extend as US Weighs Deeper Involvement in Iran-Israel Conflict