Oil prices jumped almost 3% on Thursday as a week-old air war between Israel and Iran escalated and uncertainty about potential U.S. involvement kept investors on edge.
Brent crude futures settled up $2.15, or 2.8%, to $78.85 a barrel, its highest close since January 22.
U.S. West Texas Intermediate crude for July was up $2.06, or 2.7%, to $77.20 at 1330 EST (1730 GMT).
Trading volumes were light on Thursday due to a U.S. federal holiday.
Israel bombed nuclear targets in Iran on Thursday, and Iran fired missiles and drones at Israel after hitting an Israeli hospital overnight.
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Oil prices up nearly 3% as Israel-Iran conflict escalates, US response remains uncertain
- by: Amanda Stephenson
- 2025-06-19
- Source:
Reuters
- 06/20/2025
Pumping gas at gas pump. Closeup of man pumping gasoline fuel in car at gas station. by engin akyurt is licensed under unsplash.com
Pumping gas at gas pump. Closeup of man pumping gasoline fuel in car at gas station. by engin akyurt is licensed under unsplash.com
