# Oil prices surge after Iran shoots down US drone | Business and Economy | Al Jazeera

> Oil prices rose about 3% on Thursday after a U.S. military drone was shot down over the Strait of Hormuz, with Iran and the United States disputing the location. The incident followed attacks on two tankers near the strait the previous week, and oil had also been supported by an OPEC agreement on a meeting date and signs of U.S.-China trade talks.

- Date: 2019-06-20 · published 2019-06-20T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/12319-oil-prices-surge-after-iran-shoots-down-us-drone-business-and-economy-al-jazeera
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Attacks on tankers and a drone shootdown in the Strait of Hormuz raise the risk of supply disruption from a key oil chokepoint. This lifts crude and energy costs for feed production and transport.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-04-02 | [Oil prices jump and shares drop after Trump threatens more Iran strikes](https://feedsoft.ai/events/12922-oil-prices-jump-and-shares-drop-after-trump-threatens-more-iran-strikes.md) | -2.2% | +6.1% |
| WTI | 2025-06-13 | [Oil prices surge after Israel's strike on Iran \| CBC News](https://feedsoft.ai/events/10997-oil-prices-surge-after-israel-s-strike-on-iran-cbc-news.md) | +10.2% | +1.1% |
| WTI | 2018-09-27 | [Oil gains 1 percent ahead of shortfall in Iran supply - Economy - Business - Ahram Online](https://feedsoft.ai/events/63205-oil-gains-1-percent-ahead-of-shortfall-in-iran-supply-economy-business-ahram.md) | +6.1% | -7.4% |
| WTI | 2026-04-18 | [As oil prices plunge below $91 after weeks, a new Hormuz crisis emerges \| Oil and Gas News \| Al Jazeera](https://feedsoft.ai/events/8811-as-oil-prices-plunge-below-91-after-weeks-a-new-hormuz-crisis-emerges-oil-and.md) | +13.9% | +26.5% |
| WTI | 2025-06-13 | [Oil prices surge after Israel launches airstrikes against Iran](https://feedsoft.ai/events/10992-oil-prices-surge-after-israel-launches-airstrikes-against-iran.md) | +10.2% | +1.1% |
| BRENT | 2026-04-02 | [Oil prices jump and shares drop after Trump threatens more Iran strikes](https://feedsoft.ai/events/12922-oil-prices-jump-and-shares-drop-after-trump-threatens-more-iran-strikes.md) | -2.8% | +8.2% |
| BRENT | 2025-06-13 | [Oil prices surge after Israel's strike on Iran \| CBC News](https://feedsoft.ai/events/10997-oil-prices-surge-after-israel-s-strike-on-iran-cbc-news.md) | +12.0% | -0.8% |
| BRENT | 2018-09-27 | [Oil gains 1 percent ahead of shortfall in Iran supply - Economy - Business - Ahram Online](https://feedsoft.ai/events/63205-oil-gains-1-percent-ahead-of-shortfall-in-iran-supply-economy-business-ahram.md) | +5.2% | -5.9% |

## Sources

- aljazeera.com: https://www.aljazeera.com/economy/2019/6/20/oil-prices-surge-after-iran-shoots-down-us-drone

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.