The global oil market is a point of important focus after the US had attacked three important Iranian nuclear sites on Saturday evening.
The oil prices are expected to rise after what President Donald Trump ‘A spectacular military success’ in which, he said, the nuclear enrichment facilities of Iran were ‘erased’. Trump also said that the American army could go behind other goals in Iran if the country did not agree with peace.
Saul Kavonic, a senior energy analyst at Equity Research Pird MST Marquee in Sydney, said Reuters told that the most likely scenario Iran would see by aiming American interests in the middle, including golf oil infrastructure in places such as Iraq or ship passages through the street of Hormuz.
The street of Hormuz is located between Oman and Iran and is the primary export route for oil producers such as Saudi Aarabia, the United Arab Emirates, Iraq and Kuwait. It is considered one of the world’s most important oil choc points, according to the Energy Information Administration (EIA).
ExxonMobil CEO speaks oil supply in the midst of Iran-Israel Conflict
An employee adjusts the meter at a fuel station in Kolkata, India, on 15 June 2025. (Sudipta Das / Nurphoto / Getty images)
“A lot depends on how Iran reacts in the coming hours and days, but this can put us on a path to $ 100 oil if Iran responds[s] As they have threatened before, “said Kavonic.
Only a few days ago the experts from the industry said that if the escalating conflict between Israel and Iran threatens a critical shipping route and considerably lowers the global oils, prices can rise to no less than $ 120 per barrel.
Oil, golden jump, stock sinking like Israel Pummels Iran
A staff member of a fuel station places a nozzle in a car in Kolkata, India on 15 June 2025. (Sudipta Das / Nurphoto / Getty images)
On Friday, sanctions were published “against Iran supported by Iran, generally known as the Houthis, aimed at four people, 12 entities and two ships that have imported oil and other illegal goods to support the terrorist group,” said the US Department of Foreign Assets Control (OFAC) in a press release.
“The Houthis depend on a series of front companies and trusted facilitators to generate clandestien income, to obtain arms components and promote their reign of terror in collaboration with the Iranian regime,” said deputy secretary of the Treasury Michael Faulkender said in a statement.
In an aerial photo, oil storage tanks are shown on the Enterprise Sealy Station on 19 June 2025 in Sealy, Texas. (Brandon Bell / Getty images)
Click here to read more about FOX Business
“Today’s action – our most important to date against the group – subdivides our dedication to disrupt the financial and shipping pipelines of the Houthis that make their reckless behavior in the Red Sea and the surrounding region possible.”
