Brent crude oil has been growing by more than 4% since the beginning of the new week amid the Middle East conflict

08:21; 16 June 2025 year

The price of Brent crude futures continued to rise at the beginning of the new trading week due to the armed conflict between Israel and Iran. This is evidenced by the trading data of the London ICE exchange.

As of 01:00 Moscow time, the price of futures for commercial grade crude oil for delivery in August 2025 rose by 4.18%, to $78.32 per barrel. The price of WTI crude oil futures for delivery in August 2025 increased by 2.71% to $75.16 per barrel.

On the night of June 13, Israel attacked Iran, stopping the development of its nuclear program. Following this, the Islamic Republic launched a retaliatory attack. After the attacks from Israel, Iran stated that it does not exclude the closure of the Strait of Hormuz. This measure may lead to a sharp increase in oil prices. Experts believe that in this case, the price of oil may rise to 200-300 dollars per barrel.

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