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Oil prices spiked as markets braced for a wider Israel-Iran conflict that could endanger regional energy supplies. US crude rose as much as 14% overnight before pulling back.
Fears of disruption to Gulf energy supplies lift crude and gasoline prices, raising fuel and transport costs for feed buyers.
cnn.comMatt EganJun 13, 2025After 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.
US crude rose as much as 14% overnight on fears of a wider Israel-Iran conflict endangering regional supplies.
