Israel-Iran escalation sparks oil prices surge, markets brace for supply shock; Hormuz chokepoint back in spotlight

Friday, 13 June 2025
Oil prices surged over 7% following escalating tensions between Israel and Iran, raising concerns about potential supply disruptions. Brent crude reached levels unseen since January, with the market closely monitoring the Strait of Hormuz, a crucial oil transit route. Analysts warn of a possible price spike to $130 a barrel if the conflict escalates further, impacting global energy markets.

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