Fox Business Host Liz Claman broke the impact on oil markets and consumers amidst the increase in tension in the Middle East and bombing the Iranian nuclear facilities in the US.
The global oil market is a point of major focus after attacking three major Iranian nuclear sites on Saturday night.
Oil prices are expected to rise President Donald Trump It is called “a magnificent military success”, in which he said, Iran’s nuclear enrichment features were “slanting”. Trump also said that the US army could go to Iran after other goals if the country does not agree to peace.
Saul Kavonic, a senior energy analyst at Equity Research firm MST Marki in Sydney, told the Reuters that the more likely landscape would target American interests in the Middle East and see Iran’s reply, which will include the basic structure of bay oil in places like Iraq or will have to disturb the ship passage through the hormuz’s strat.
Hormuz’s Strait is between Oman and Iran and is a primary export route for oil producers such as Saudi Arabia, United Arab Emirates, Iraq and Kuwait. According to it according to one of the world’s most important oil chokes Energy information administration,
Exxonmobil’s CEO spoke of oil supply amidst Iran-Israeli conflict
A worker adjusts the meter at a fuel station in Kolkata, India on 15 June 2025. (Sudeepta Das / Nurfoto / Getty Image)
“A lot depends on how Iran reacts in the coming hours and days, but it can set us to a path towards $ 100 oil if Iran reaction (S) has earlier threatened,” Kavonic said.
few days back, Industry experts stated that if the growing conflict between Israel and Iran threatens an important shipping route and there is considerable cuts in global oil supply, the prices may rise to $ 120 per barrel.
Oil, gold jump, stock sink as Israel Iran
A fuel station staff member inserts a nozzle in a car in Kolkata, India on 15 June 2025. (Sudeepta Das / Nurfoto / Getty Image)
On Friday, “against Iran -backed Ansarllah, usually known as Hauthis, restrictions were issued, targeting four individuals, 12 institutions, and two ships, targeting oil and other illegal items in support of the terrorist group.”
The Deputy Secretary of Treasury Michael Folkander said in a statement, “Houthis rely on a series of front companies and reliably rely on trusted facilities to generate revenue, purchase arms components and pursue their reign of terror in partnership with the Iranian rule.”
In an aerial view, the oil storage tank is seen on 19 June 2025 at Sili, Enterprise Sili station in Texas. (Brandon Bell / Getty Images)
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“Today’s action – is the most important of the group to date – Hauthis fulfills our commitment to disrupt the financial and shipping pipelines that enable their careless behavior in the Red Sea and the surrounding area.”
Fox Business’ Daniel Genovens and Reuters contributed to this report.
