The oil market has been wrestling for days with Donald Trump’s next act in an escalating Middle East conflict. Now American jets have struck Iran’s three main nuclear sites, a move that leaves traders preparing for a price surge — but still guessing where the crisis goes from here.
In a wild week, Brent futures have jumped 11% since Israel attacked its nemesis, but with sharp moves up and down from one day to the next. That rise is expected to restart on Monday, after the U.S. assault — which targeted sites at Fordo, Natanz, and Esfahan — dramatically raised the stakes in a region that accounts for a third of global oil output.
From frenzied options markets, to soaring freight and diesel pricing, to a radical redrawing of crude’s pivotal forward curve, all of that volatility is expected to intensify in the week ahead.
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