{"id":14668,"date":"2025-06-13T07:41:43","date_gmt":"2025-06-13T07:41:43","guid":{"rendered":"https:\/\/infundpros.com\/?p=14668"},"modified":"2025-06-13T07:41:44","modified_gmt":"2025-06-13T07:41:44","slug":"oil-prices-surge-after-israels-attack-on-iran","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=14668","title":{"rendered":"Oil prices surge after Israel\u2019s attack on Iran"},"content":{"rendered":"<div>\n<p>Stay informed with free updates<\/p>\n<p class=\"article__content-sign-up-topic-description o3-type-body-base\"><span>Simply sign up to the <!-- -->Oil<!-- --> myFT Digest &#8212; delivered directly to your inbox.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=933fd48d-66b6-4970-8af3-6d57531d44c2&amp;concept-id=3c608fef-7e4f-4e44-ade5-caa90d353308\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Oil prices surged on Friday as Israel\u2019s air strikes against Iran threatened supplies across the region and sparked a rush to haven assets. <\/p>\n<p>Brent crude, the international benchmark, was up 5 per cent at $72.88 in London after earlier spiking more than 12 per cent. West Texas Intermediate, the US benchmark, climbed 5.2 per cent to $71.56. <\/p>\n<p>Michael Alfaro, chief investment officer at Gallo Partners, a hedge fund focused on energy and industrials, said the attack on Iran\u2019s nuclear facilities marked a \u201cseismic escalation\u201d in the conflict.<\/p>\n<p>\u201cWe\u2019re staring down the barrel of a prolonged conflict that\u2019s almost certain to keep oil prices elevated,\u201d he said. <\/p>\n<p>Israel\u2019s strikes targeted Iran\u2019s nuclear programme, military facilities and killed its top two commanders. Iran said none of its oil installations were hit in the attack.<\/p>\n<p>Global stock markets fell and gold, a haven asset, jumped. Futures tracking the S&amp;P 500 were down 1.4 per cent and the gold price was up 0.9 per cent at $3,415 an ounce. <\/p>\n<p>There are multiple risks for the energy sector from a renewed conflict. <\/p>\n<p>The Strait of Hormuz, the narrow waterway separating Iran from the Gulf states, is a conduit for about a third of the world\u2019s seaborne oil supplies. Iran has repeatedly threatened to close it in the event of an attack.<\/p>\n<p>Some of the world\u2019s largest oilfields, including in Saudi Arabia and Iraq, are also within reach of Iran\u2019s missiles and drones. In 2019 Iran was widely believed to be behind an attack on Saudi Arabian oil facilities that briefly pushed up the price of crude.<\/p>\n<figure class=\"n-content-image n-content-image--full\" data-component=\"image-set\"><picture><source media=\"(min-width: 700px)\"  width=\"3500\" height=\"2500\"><\/source><source media=\"(max-width: 490px)\"  width=\"1500\" height=\"2000\"><\/source><\/picture><\/figure>\n<p>Qatar is one of the world\u2019s largest suppliers of liquefied natural gas and its shipments must traverse Hormuz to reach international markets at a time of tight global supplies.\u00a0<\/p>\n<p>Helima Croft, a former CIA analyst who is now at RBC Capital Markets, questioned whether the latest strike was a limited military engagement, as occurred in the autumn, or if Iran would target regional energy supplies.<\/p>\n<p>\u201cThe key question is whether Iran seeks to internationalise the cost of tonight\u2019s action by targeting regional energy infrastructure,\u201d Croft said.<\/p>\n<p>US President Donald Trump has previously pledged to keep oil prices low to help tame inflation.<\/p>\n<p>After Russia\u2019s full-scale invasion of Ukraine that started in 2022, the Biden administration released about 300mn barrels of crude from the US Strategic Petroleum Reserve, the world\u2019s largest emergency stockpile, to help keep prices in check.<\/p>\n<p>If the oil price surge is prolonged or supplies are disrupted from the Middle East, Trump could use the SPR, but in the past he has criticised former president Joe Biden for draining the reserve to its lowest level in 40 years. The SPR has around 400mn barrels, well below its 727mn barrel capacity.<\/p>\n<p>Traders will also look for any response from the Opec+ group of oil producers. Saudi Arabia, one of the group\u2019s most powerful members, condemned Israel\u2019s attack on Friday.\u00a0<\/p>\n<p>The group, of which Iran is a member, has been raising production in recent months but may face additional pressure from the Trump administration to tap its additional capacity to keep markets well supplied.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/933fd48d-66b6-4970-8af3-6d57531d44c2\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stay informed with free updates Simply sign up to the Oil myFT Digest &#8212; delivered directly to your inbox. Oil prices surged&#8230;<\/p>\n","protected":false},"author":1,"featured_media":14669,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-14668","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Oil prices surge after Israel\u2019s attack on Iran | inFundPros<\/title>\n<meta name=\"description\" content=\"Stay informed with free updatesSimply sign up to the Oil myFT Digest -- delivered directly to your inbox.Oil prices surged on Friday as Israel\u2019s air\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=14668\" \/>\n<meta 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