Business • Jun 23, 2025

Oil prices reach 5-Month peak following US-Israel attacks

Oil prices just hit their highest point in five months after the US teamed up with Israel for strikes on Iran's nuclear sites.
This move has everyone worried about possible disruptions to oil supplies from the Middle East, pushing Brent crude up to $78.89 a barrel and WTI to $75.71.

TL;DR

Brent is up 13% and WTI by 10% since mid-June

There's real concern that Iran might retaliate by trying to close the Strait of Hormuz—a narrow passageway where about 20% of the world's oil travels.
While analysts say these price jumps are mostly about fear right now, any actual supply cuts could keep prices high.
Since mid-June, Brent is up 13% and WTI by 10%, but experts warn things could shift quickly if tensions calm down.