# Oil settles down 7% after Iran attacks US military base in Qatar, not tankers

> Oil settled down more than 7% on Monday after Iran avoided disrupting Strait of Hormuz tanker traffic and instead attacked a U.S. base in Qatar. Brent closed down $5.53 at $71.48 a barrel, its steepest one-day drop since August 2022.

- Date: 2025-06-23 · published 2025-06-23T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/9615-oil-settles-down-7-after-iran-attacks-us-military-base-in-qatar-not-tankers
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

A large drop in crude removes the Gulf supply-disruption premium, sharply lowering diesel and energy input costs for feed producers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2025-06-23 | 1 | -5.8% | -4.5 | Brent closed down $5.53 to $71.48 on June 23 after Iran's attack on a US base in Qatar left Hormuz tanker traffic untouched, which removed the supply-risk premium and caused the move. |
| BRENT | 2025-06-26 | 5 | -14.7% | -3.6 | Brent fell $5.53 (over 7%) on June 23 as Iran's retaliation spared tankers and Hormuz flows, removing the supply-disruption premium that drove the 5-day drop. |
| BRENT | 2025-06-25 | 5 | -13.5% | -3.7 | Brent fell $5.53 to $71.48 on June 23, its steepest one-day drop since 2022, after Iran's retaliation spared tankers and Hormuz, removing the supply risk premium; this was the largest single-day contributor to the 5-day decline. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-04-17 | [Oil settles down 9% after Iran declares Strait of Hormuz open \| Reuters](https://feedsoft.ai/events/8807-oil-settles-down-9-after-iran-declares-strait-of-hormuz-open-reuters.md) | +1.3% | +0.6% |
| BRENT | 2026-04-14 | [Oil Down 3% as New US-Iran Talks Seen](https://feedsoft.ai/events/10136-oil-down-3-as-new-us-iran-talks-seen.md) | -10.2% | -5.0% |
| BRENT | 2026-05-27 | [Oil settles 5% lower as investors await updates on US-Iran peace deal talks \| Reuters](https://feedsoft.ai/events/12486-oil-settles-5-lower-as-investors-await-updates-on-us-iran-peace-deal-talks.md) | -3.9% | -24.5% |
| BRENT | 2026-02-01 | [Oil settles down over 4% on US-Iran de-escalation, easing supply worries \| Reuters](https://feedsoft.ai/events/8794-oil-settles-down-over-4-on-us-iran-de-escalation-easing-supply-worries-reuters.md) | -3.1% | +0.6% |
| BRENT | 2020-01-07 | [Oil sinks nearly 5%, under $60 after Trump says Iran is standing down](https://feedsoft.ai/events/9658-oil-sinks-nearly-5-under-60-after-trump-says-iran-is-standing-down.md) | -7.8% | -22.1% |
| WTI | 2026-04-17 | [Oil settles down 9% after Iran declares Strait of Hormuz open \| Reuters](https://feedsoft.ai/events/8807-oil-settles-down-9-after-iran-declares-strait-of-hormuz-open-reuters.md) | +2.3% | +7.9% |
| WTI | 2026-04-14 | [Oil Down 3% as New US-Iran Talks Seen](https://feedsoft.ai/events/10136-oil-down-3-as-new-us-iran-talks-seen.md) | -9.6% | +0.2% |
| WTI | 2026-05-27 | [Oil settles 5% lower as investors await updates on US-Iran peace deal talks \| Reuters](https://feedsoft.ai/events/12486-oil-settles-5-lower-as-investors-await-updates-on-us-iran-peace-deal-talks.md) | -0.2% | -26.3% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-hits-five-month-high-after-us-hits-key-iranian-nuclear-sites-2025-06-23/

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