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Brent crude settled at $74.23 a barrel, up 7.02%, on June 13 after Israel and Iran traded air strikes. Brent briefly rose over 13% to an intraday high of $78.50, its strongest level since January.
Investors feared the fighting could disrupt Middle East oil exports.
Fears of lost Middle East crude supply lift crude prices, which raises diesel and fuel costs for feed mills and transport. Higher crude also supports biofuel feedstock values, which can spill over into vegetable oil and corn prices.
reuters.comErwin SebaJun 13, 2025After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Brent settled up 7% on June 13 (intraday +13%) after Israel-Iran air strikes, the main driver of the 5-day gain via Middle East supply-risk premium.
Brent settled up about 7% on June 13 as Israel and Iran traded strikes, which directly explains the move through Middle East supply-risk sentiment.
Brent settled up 7% at $74.23 after Israel and Iran traded strikes, with an intraday spike above 13%, which accounts for most of the weekly gain.
Brent settled up 7% as Israel and Iran traded strikes, reflecting fears of Middle East export disruption that lifted WTI in step.
