Market commentary: Oil prices shoot up by more than 11% after Israel strikes Iran

Israel struck Iran last night. Iran’s nuclear facilities were hit. Hossein Salami, the head of Islamic Revolutionary Guard Corps of Iran was killed in the Israeli strikes. Two key nuclear scientists have also been reportedly killed in the attack.  A strong retaliation from the Iranian side looks imminent.

Oil prices shoot up by over 11%

Oil prices shot up by 11% overnight after the news of the Israeli strikes came. At 8:45 a.m. Indian Standard Time, 13^th June, 2025, WTI crude for July delivery was up by 11.01%, trading at $75.29 per barrel. Brent crude was up by 11%, trading at $76.37 per barrel.

US markets closed in green yesterday, 12^th June, 2025. That was before the news of Israeli attacks on Iran came. Nasdaq ended the day yesterday, up by 46.61 points or 0.24%. S&P 500 ended the day, up by 23.02 points or 0.38%. Dow Jones ended the day, up 101.85 points or 0.24%.

Asian markets begin in red today

Asian markets have started the day today, heavily in red. At 8:50 a.m. Indian standard time, 13^th June, 2025, Nikkei 225 is down by 507 points or 1.33%. Hang Seng is down by 191.74 points or 0.80%. Shanghai composite is down by 26.44 points or 0.78%. Kospi index is down by 33.35 points or 1.14%.

With oil prices shooting up after the Israeli strikes, Indian markets are likely to start the day in red today.

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Source: Dow Jones