{"id":123642,"title":"Oil Prices Spike as Israeli Strikes in Iran Spark Fears of Wider Conflict","publisher":"Share Talk","author":"sharetalk","published":"2025-06-13T06:27:30+00:00","modified":"2026-06-22T05:52:19+00:00","canonical_url":"https://www.share-talk.com/oil-prices-spike-as-israeli-strikes-in-iran-spark-fears-of-wider-conflict/","markdown_url":"https://www.share-talk.com/oil-prices-spike-as-israeli-strikes-in-iran-spark-fears-of-wider-conflict.md","json_url":"https://www.share-talk.com/oil-prices-spike-as-israeli-strikes-in-iran-spark-fears-of-wider-conflict.json","category":"Energy","categories":["Energy"],"tags":["Brent Crude","Gold","Iran","Israel","Israeli","Middle East","Mohammad Bagheri","oil","US dollar"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/03/oil-friday-6-oct-750x406-1.webp?fit=750%2C406&quality=80&ssl=1","format":"news","language":"en-GB","content":"Oil prices surged on Friday after Israel launched a series of strikes in Iran, killing the country’s top military commander and fuelling fears of a broader conflict in the Middle East.\n\n![](https://www.share-talk.com/wp-content/uploads/2025/06/David-Ingles-on-X_-_Brent-Crude-surges-on-multiple-reports-Israel-just-stru.-2025-06-13-at-7.42.36-AM-300x238.webp)\n\nBrent crude soared as much as 13% to over $78 a barrel — its sharpest intraday gain since the onset of the Ukraine war in March 2022 — as global markets reacted to the escalating tensions.\n\nGold also rallied, rising up to 1.7% and nearing record highs, while the US dollar rebounded from a three-year low as investors rushed into traditional safe-haven assets.\n\nThe Israeli offensive reportedly targeted key locations, including Iran’s Natanz nuclear enrichment facility. Among those killed was General Mohammad Bagheri, Iran’s chief of military staff.\n\nIran vowed a “harsh and decisive” response, further intensifying market jitters and driving oil prices higher, reversing the year’s previous losses.\n\nWarren Patterson, head of commodities strategy at ING, said: “We are back in an environment of heightened geopolitical uncertainty, leaving the oil market on tenterhooks and requiring it to start pricing in a larger risk premium for any potential supply disruptions.”"}