Global oil prices leaped by approximately 13% on Friday morning after Israel reportedly conducted a series of airstrikes targeting Iran’s nuclear facilities and military infrastructure. The surge reflects heightened concerns over potential disruptions to Middle Eastern oil supplies during a risky geopolitical flashpoint.
Benchmark Brent crude spiked over 13%, climbing from roughly $69 to $78+ per barrel, its largest single-day jump since the onset of the Ukraine conflict in early 2022 . West Texas Intermediate (WTI) similarly rose about 14%, trading in the $77–78 range.
Market analysts at ING emphasized that the surge incorporated a “substantial risk premium,” citing Israel’s possible disruption of Iranian oil exports or a threat to the Strait of Hormuz, which facilitates around a third of global seaborne oil shipments.
Bloomberg further framed the spike as the steepest intraday rise since March 2022, deepening concerns that a regional escalation could cut off Iranian supply or trigger retaliatory disruptions.
Saxo Markets analyst Charu Chanana warned the market could shift focus away from excess supply toward immediate geopolitical risk. In crisis scenarios such as damage to Iranian oil infrastructure or tanker lanes, Brent could breach $80 per barrel, she noted.
Beyond oil, global equities dropped sharply. Reuters reported U.S. futures slumped around 1.7%, Asia-Pacific markets declined, and safe-haven assets like gold and the Swiss franc strengthened amid investor risk aversion.
This market shock followed reports of Israel’s overnight strikes on Natanz and other enrichment sites, along with Iranian military installations—collectively referred to as “Operation Rising Lion.” Iran subsequently downed or confronted a wave of drone counterattacks launched toward Israeli territory.
The escalation also comes ahead of a planned sixth round of nuclear negotiations between the U.S. and Iran in Oman. Secretary of State Rubio and President Trump emphasized that the U.S. had no involvement in Israel’s actions but pledged robust protection for American forces in the region.
