Preemptive Israeli airstrikes on Iran spark fears of a broader Middle East war and disrupt global energy markets; oil heads for best week since 2022.
New Delhi | June 13, 2025 –
Global crude oil prices surged over 13% on Friday, marking the steepest single-day spike in over two years, following Israel’s large-scale military strikes on Iranian territory, including nuclear and military sites. The Brent crude benchmark rose 12.82% to $78.25 per barrel, while the US West Texas Intermediate (WTI) jumped 13.48% to $77.21.
The geopolitical escalation rattled energy markets, raising fears of a potential disruption in oil supply chains, especially through the Strait of Hormuz, a key maritime route that handles about 20% of global oil flows.
Israel-Iran Tensions Explode Into Open Conflict
According to Reuters, Israeli defense forces launched preemptive strikes targeting “dozens” of strategic locations across Iran. These include facilities associated with Iran’s nuclear program, ballistic missile development, and military infrastructure.
Also Read: Trump Frustrated as Oil Prices Rise Amid Middle East Conflict Concerns
Israel’s Prime Minister Benjamin Netanyahu declared the strikes were essential to hinder Iran’s nuclear ambitions, asserting that “Iran will not be allowed to obtain a nuclear weapon.”
Iran, in response, reported multiple explosions in Tehran, and its state-run media confirmed the deaths of two prominent nuclear scientists, Fereydoun Abbasi-Davani and Mohammad Mehdi Tehranchi, as well as the high-ranking IRGC Commander-in-Chief Hossein Salami, in what is being described as a direct assassination.
Global Fallout and US Position
The US Secretary of State, Marco Rubio, distanced Washington from the attack, calling it a “unilateral Israeli action” and urged Iran to avoid retaliating against US personnel in the region. Simultaneously, the US is preparing a partial evacuation of its military staff from the Middle East amid rising threat levels.
Also Read: “No Choice But to Act”: Israel Launches Airstrikes to Disrupt Iran’s Nuclear Ambitions
Market Reaction and Oil Outlook
“The conflict threatens to destabilize oil supply routes and disrupt the Strait of Hormuz. Oil is now on track for its best week since February 2022,” said Jigar Trivedi, Senior Research Analyst at Reliance Securities.
Back home, MCX crude oil is expected to hit buyer circuits with forecasts suggesting a surge toward ₹6,200 per barrel during Friday’s trading session.
IAEA Censure Deepens Crisis
Adding to the global alarm, the International Atomic Energy Agency (IAEA) on Thursday issued its first formal censure of Iran in 20 years, accusing Tehran of failing to cooperate with nuclear inspections. Iran retaliated by announcing the opening of a third uranium enrichment facility and deploying advanced centrifuges, escalating the nuclear standoff further.
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Israel Iran conflict, crude oil prices, Brent crude, WTI crude, oil market, Iran nuclear programme, Hossein Salami, Tehran attack, Middle East war, global energy markets, MCX crude oil, Strait of Hormuz