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At Close: Jun 08, 2026
Hormuz closure fears drive oil outlook higher as tanker rates surge, slashing Gulf supply routes and fueling global crude market anxiety.
Helima Croft, RBC Capital Markets' global head of commodity strategy, joins ‘Squawk Box' to discuss the impact of the Israel-Iran conflict on energy markets, key factors to watch amid the tensions,

Oil Prices Soar on Iran Attack

06:25am, Friday, 13'th Jun 2025
Israel's massive attack on Iran has caused a significant increase in oil prices, which are up as much as 15%.
Oil futures spike 7% as Israeli strikes on Iran raise supply fears. Traders eye OPEC+ response and Strait of Hormuz risks in crude oil outlook.
Markets today face sharp losses as oil news drives risk-off moves amid Middle East tensions and U.S. consumer sentiment data.
Fears have resurfaced that the Iran could target one of the world's most vital oil arteries — the Strait of Hormuz.  However, market watchers believe that closing the waterway is unlikely, and even
Saudi's spare capacity and OPEC+ tensions could swing crude oil prices between $85–$100. Traders watch for supply moves and geopolitical risk signals.
Crude benchmarks were on course for their biggest one-day rise since October 2024.
Oil prices jump $10 in three days as geopolitical tensions threaten energy flows through key shipping lanes like the Strait of Hormuz.
There is ‘no net benefit' for Iran to impede the passage of oil through the Strait of Hormuz, said Ellen Wald, President of Transversal Consulting, on CNBC's Inside India. ➡️ While rising Middle
Israel attacks Iranian nuclear facilities and military leaders, says Iran has launched 100 drones in retaliation
Guy Johnson, Kriti Gupta and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." For up to the minute market intelligence and insight, click MLIV �
Oil prices forecast a possible surge to $130+ as Strait of Hormuz threats and Middle East escalation loom over global crude supply and OPEC output.
Anas Alhajji of Energy Outlook Advisors says we are unlikely to see prices reach $100 a barrel even if the global oil market loses all supply of Iranian oil, that it is not in Iran's interest to cause
MP Evans Group PLC (AIM:MPE), a major producer of sustainable palm oil in Indonesia, reported an 11% increase in crop harvest from its plantations for the first five months of 2025, ahead of its annua
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