Oil Markets Surge Following Israel-Iran Conflict

Oil prices experienced their sharpest surge in nearly three years, rising over 6% after Israel launched a significant attack on Iranian nuclear facilities. Brent crude futures jumped $4.60 to $73.96 per barrel and West Texas Intermediate crude climbed $4.99 to $73.03 per barrel – marking the highest levels since January 2025. The attacks, targeting Iran’s nuclear infrastructure, ballistic missile factories, and military commanders, have dramatically escalated Middle Eastern tensions and sparked fears of potential disruptions to global oil supplies.