The Financial News

Latest / Hot Issue

Politics

World

Lifestyle

The Financial News

Latest / Hot Issue

Politics

World

Lifestyle

Friday, July 4, 2025

Oil Prices Surge 5% Amid Rising Tensions Over Possible Israeli Strikes on Iran

Newsis

International oil prices increased by 5% due to the possibility of Israeli airstrikes on Iranian oil facilities.

On Thursday, The Financial Times reported that U.S. President Joe Biden’s comments regarding ongoing discussions with Israel about airstrikes played a key role in the spike. Biden, when asked whether the U.S. was discussing Israeli airstrikes on Iran’s oil infrastructure, responded, “We’re discussing that,” but quickly hesitated, adding that he does not expect immediate retaliation from Israel against Iran.

As a result, Brent crude futures for December delivery rose by 5%, reaching $77.65 per barrel. Similarly, West Texas Intermediate (WTI) for November delivery surged by 5.15%, settling at $73.71 per barrel.

An anonymous U.S. official cited by The Financial Times noted that the U.S. expects any Israeli military response to be “calculated” to avoid escalating tensions in the volatile Middle East region.

The newspaper also reported that U.S. and Israeli government officials have recently discussed limiting Israel’s military response.

Claudio Galimberti, an economist at Rystad Energy, explained in an interview with CNBC that despite the highest tensions in the Middle East in over 40 years, the oil reserves of major producing countries in OPEC+ remain high, preventing a drastic rise in oil prices.

However, a strategist at TD Securities, Daniel Ghali, pointed out that since these reserves are concentrated in the Middle East, particularly in the Gulf region, the risk could increase if the conflict spreads.

CNBC reported that traders are particularly concerned about potential disruptions to oil supply through the Strait of Hormuz if Israel attacks Iranian oil facilities, which could significantly drive up prices.

Hot this week

Tesla Sales Keep Slipping, But Stock Still Jumps Nearly 5%

Tesla's vehicle sales fell 13.5% year-on-year in Q2, with deliveries below market expectations, but stock surged nearly 5%.

S&P and Nasdaq Hit New Highs Ahead of July 4th Holiday

The New York stock market showed mixed results as the Dow dipped while the S&P 500 and Nasdaq hit record highs ahead of Independence Day.

Trump Rules Out Tariff Extension, Warns Japan Could Face 35% Rates

Trump announces no extension on tariff suspension, warns Japan tariffs could rise to 30-35% amid uncertain trade negotiations.

Oil Prices Rebound as Trump Plans to Refill U.S. Reserves

Oil prices rebound as Trump plans to replenish the Strategic Petroleum Reserve, boosting demand expectations amid positive economic indicators.

Nvidia Keeps Breaking Records—Is the $4 Trillion Club Next?

The New York stock market hits new highs, driven by AI stocks like Nvidia, while Tesla faces declines amid criticism of tax cuts.

Topics

Tesla Sales Keep Slipping, But Stock Still Jumps Nearly 5%

Tesla's vehicle sales fell 13.5% year-on-year in Q2, with deliveries below market expectations, but stock surged nearly 5%.

S&P and Nasdaq Hit New Highs Ahead of July 4th Holiday

The New York stock market showed mixed results as the Dow dipped while the S&P 500 and Nasdaq hit record highs ahead of Independence Day.

Trump Rules Out Tariff Extension, Warns Japan Could Face 35% Rates

Trump announces no extension on tariff suspension, warns Japan tariffs could rise to 30-35% amid uncertain trade negotiations.

Oil Prices Rebound as Trump Plans to Refill U.S. Reserves

Oil prices rebound as Trump plans to replenish the Strategic Petroleum Reserve, boosting demand expectations amid positive economic indicators.

Nvidia Keeps Breaking Records—Is the $4 Trillion Club Next?

The New York stock market hits new highs, driven by AI stocks like Nvidia, while Tesla faces declines amid criticism of tax cuts.

Trump’s Trade Wars Hit Hard: Dollar Sinks Over 10%

The U.S. dollar has dropped over 10% this year, raising concerns about its status as the primary reserve currency due to Trump's policies.

With 95% AI Accelerator Market Share, Nvidia’s Growth Story Isn’t Over

Nvidia's stock surges past $3.8 trillion market value, poised to become the first company to reach $4 trillion amid strong AI market dominance.

Trump’s Trade Tactics: Letters to All Nations on Tariffs

Trump plans to end the grace period for tariffs, sending letters outlining trade deficits and imposing tariffs on imports.

Related Articles