Oil prices initially surged following U.S. strike on Iran, then quickly retreated.

From Yahoo Finance: 2025-06-23 06:45:00

Amidst Middle East violence, oil prices initially surged following U.S. strike on Iran, then quickly retreated. Markets remain steady despite growing U.S. debt concerns, with global equities rallying. Utilities face challenges meeting data center demands, while global energy sector grapples with cooling needs. Uncertainty remains high in equity markets.

U.S. President Trump escalates conflict with Iran, claiming to have destroyed nuclear sites. Oil prices spike before falling below previous levels. Oversupply of oil production capacity dampens impact of Middle East tensions. Speculative oil price bets are risky. Treasuries remain stable, eyeing Federal Reserve updates. Uncertainty surrounds market direction amid global events.

Read more: Oil keeps calm, MidEast conflict carries on