# Update: oil prices fall back after short-lived surge in early trading - FreightWaves

> Oil prices opened higher on June 22 after the US military strike on Iran but gave back most gains within the hour. ULSD diesel outperformed crude, rising 3.67% in early trading before reversing to flat to lower.

- Date: 2025-06-23 · published 2025-06-23T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude low
- Page: https://feedsoft.ai/events/8645-update-oil-prices-fall-back-after-short-lived-surge-in-early-trading
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Diesel strength relative to crude raises trucking and freight costs for feed delivery even when crude moves are muted, supporting higher delivered feed costs.

## Read by commodity

- WTI: neutral
- BRENT: neutral
- DIESEL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2025-06-26 | 5 | -12.7% | -2.9 | The June 22 spike after the US strike on Iran reversed within the hour, showing the market sold the geopolitical premium and setting up the later decline. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2019-09-15 | [Oil prices likely to surge at Sunday's opening after a "different" type of Saudi Arabia disruption - FreightWaves](https://feedsoft.ai/events/5990-oil-prices-likely-to-surge-at-sunday-s-opening-after-a-different-type-of-saudi.md) | +5.7% | +4.1% |
| DIESEL | 2022-02-24 | [Ukraine fallout: Diesel surges more than crude before falling back - FreightWaves](https://feedsoft.ai/events/42892-ukraine-fallout-diesel-surges-more-than-crude-before-falling-back-freightwaves.md) | +25.9% | +47.7% |
| DIESEL | 2026-08-24 | [Diesel Prices Surge, Spot Rates Plunge: Why Trucking Costs Are Disconnected - FreightWaves](https://feedsoft.ai/events/18071-diesel-prices-surge-spot-rates-plunge-why-trucking-costs-are-disconnected.md) | -2.9% | +10.0% |
| DIESEL | 2023-12-26 | [After dropping for 8 weeks, benchmark diesel price turns higher - FreightWaves](https://feedsoft.ai/events/32875-after-dropping-for-8-weeks-benchmark-diesel-price-turns-higher-freightwaves.md) | -3.9% | +1.5% |
| DIESEL | 2019-09-16 | [Oil out of the gate: higher by 11-14% for key benchmarks, but diesel prices lag - FreightWaves](https://feedsoft.ai/events/5989-oil-out-of-the-gate-higher-by-11-14-for-key-benchmarks-but-diesel-prices-lag.md) | +5.7% | +4.1% |
| WTI | 2025-12-03 | [Vegetable oil prices rose slightly after falling in the previous week](https://feedsoft.ai/events/11261-vegetable-oil-prices-rose-slightly-after-falling-in-the-previous-week.md) | -0.7% | -2.5% |
| WTI | 2022-03-09 | [Oil falls as investors weigh U.S. import ban](https://feedsoft.ai/events/5778-oil-falls-as-investors-weigh-u-s-import-ban.md) | -22.0% | -17.5% |
| WTI | 2019-09-16 | [OPEC says too early for any action on oil after Saudi attacks](https://feedsoft.ai/events/57001-opec-says-too-early-for-any-action-on-oil-after-saudi-attacks.md) | +5.8% | -0.1% |

## Sources

- freightwaves.com: https://www.freightwaves.com/news/oil-prices-are-higher-out-of-the-gate-after-iran-attack-but-increase-isnt-gigantic

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