Published: Sunday, June 22, 2025 · 5:50 AM | Updated: Sunday, June 22, 2025 · 5:50 AM
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Analyst Ziad Daoud and his team suggest that the impact on oil prices depends on Iran’s response, subsequent U.S. actions, and the possibility of a ceasefire. As the market assesses supply risks, crude oil prices have risen from about $70 per barrel to $77 per barrel following Israel’s airstrike on Iran.
In a worst-case scenario, such as the closure of the Strait of Hormuz, crude oil prices could skyrocket to over $130 per barrel. This would likely hinder global economic growth and increase consumer prices.
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