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Oil soars more than 9% after Israel strikes Iran, rattling investors
Indian Chronicle
|June 21, 2025
Oil prices surged more than 9% on Friday hitting their highest in almost five months after Israel struck Iran, dramatically escalating tensions in the Middle East and raising worries about disrupted oil supplies.
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Brent crude futures jumped $6.29, or 9.07%, to $75.65 a barrel by 0315 GMT after hitting an intraday high of $78.50, the highest since January 27. U.S. West Texas Intermediate crude was up $6.43, or 9.45%, at $74.47 a barrel after hitting a high of $77.62, the loftiest since January 21 Israel strikes Iran LIVE: Military official says nuclear targets hit; explosions heard across TehranFriday's gains were the largest intraday moves for both contracts since 2022 after Russia invaded Ukraine, causing energy prices to spike.
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