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Oil Prices Soar as Israel Launches Airstrikes on Iran Without U.S. Backing

Jun 12, 2025, 11:00 p.m. ET

AsianFin -- Crude oil futures spiked as much as 13% Thursday evening following a surprise Israeli airstrike on Iran, carried out without support from the United States.

U.S. West Texas Intermediate (WTI) crude climbed 11.38% to $75.82 per barrel, while global benchmark Brent crude jumped 10.28% to $76.48.

Israeli Prime Minister Benjamin Netanyahu said the country had launched a “targeted military operation” against Iran’s nuclear and ballistic missile program. The strikes hit Iran’s main nuclear enrichment facility at Natanz, targeted key nuclear scientists, and struck critical components of its missile development infrastructure, according to Netanyahu.

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