Oil prices surge to five-month high due to US-Iran tensions, raising fears of supply disruptions

From Financial Modeling Prep: 2025-06-23 07:15:00

Oil prices surged to their highest levels since January after the U.S. and Israel targeted Iranian nuclear facilities, sparking fears of a wider conflict and supply disruptions in the Middle East. Brent crude reached $78.53 a barrel, up 1.97%, while WTI crude rose 2.04% to $75.35 amid concerns of retaliation and global crude flow disruptions.

Iran’s threat to close the critical Strait of Hormuz, a key global oil supply route, has heightened fears of a potential blockade that could send oil prices soaring. Analysts are preparing for higher benchmarks as tensions escalate, with global shippers reconsidering operations in the region due to increased risks of disruption.

Stay informed on live oil data and price trends by accessing the Commodities API for real-time updates on Brent, WTI, and other energy commodities. As the situation in the Middle East unfolds, monitoring pricing data will be crucial for investors and stakeholders to navigate the volatile oil market effectively.



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