It started before dawn on June 13th. Explosions echoed through the skies over Iran, shattering the fragile calm that had settled over global markets.
As Israel launched airstrikes on Iranian nuclear facilities, and missiles rained down in retaliation on Israeli cities, panic rippled across trading floors from Tokyo to New York.
Global equities tumbled, oil prices soared, and volatility measures surged in one of the sharpest market reactions since the early days of Russia’s invasion of Ukraine.
How is the Israel-Iran conflict going to affect oil prices?
The most serious economic threat from this conflict lies in its potential to reignite inflation through sustained high oil prices. Recent attacks on Iranian oil facilities in Tehran and Iran’s critical South Pars gas field have intensified market anxieties significantly. Analysts anticipate even sharper oil price increases, potentially driving crude above USD 100 per barrel if tensions worsen.
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