Oil Futures Climb Nearly 5% -- Barrons.com

Dow Jones06-16

By Liz Moyer

Oil futures jumped again on Sunday, adding to gains on Friday amid the escalating conflict between Israel and Iran.

The greatest risk the oil markets face is that Iran retaliates against Israel airstrikes by closing the Strait of Hormuz, which is critical to global energy shipments.

At around 6:11 p.m. on Sunday, West Texas Intermediate crude futures were up 4.9%, and Brent crude was up 4.8%.

Oil soared Friday after Israel's attack. WTI crude oil futures rose 7.3% to around $72.98 a barrel, and the international benchmark Brent rose more than 7%, to about $74.23 a barrel.

Earlier on Sunday, President Donald Trump told ABC News that it's "possible" the U.S. could get involved in the conflict, though it isn't now. "It's possible we could get involved," he said. "But we are not at this moment involved."

Israel's military struck dozens of locations in Iran, including oil and refinery sites, and Iran missiles forced a refinery in Haifa, Israel, to partially shut down.

Write to Liz Moyer at liz.moyer@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

June 15, 2025 18:18 ET (22:18 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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