Oil prices are going up – level 3

Oil prices are going up

17-06-2025 07:00

Oil prices have risen sharply after Israel said it had attacked Iran, which caused an escalation of tensions in the Middle East. The cost of Brent crude oil to increase by over 10%, reaching its highest level since January.

Many traders are worried that the conflict between Iran and Israel might disrupt the oil supply from the region, which is very important for the world’s energy needs. About 20% of the global oil supply passes through the Strait of Hormuz, a narrow waterway near Iran. If the conflict affects Iran’s energy infrastructure, experts believe oil prices could rise even more.

Analysts also mention that today’s price changes are the biggest since the beginning of the war in Ukraine in 2022. Saudi Arabia is watching the situation and could decide to release more oil to control prices. Rising oil prices can impact daily life around the world, making fuel, food, and other goods more expensive. Stock markets have also reacted with concern.

Difficult words: escalation (a situation becoming more serious), disrupt (to stop something from working normally).

You can watch the video news lower on this page.

What percentage of the global oil supply passes through the Strait of Hormuz?

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