CNBC
08 Jun 2026, 00:43 UTC · 12h ago
Oil prices rise after Iran fires missiles at Israel, escalating regional tensions
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CNBC
08 Jun 2026, 00:43 UTC · 12h ago
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Iran launched missile attacks against Israel, marking the first such hit since the start of the ceasefire. — Direct military escalation in the Middle East typically spikes oil prices due to geopolitical risk and potential supply disruptions.
+0.80An Iranian official stated that a deal with President Trump is no longer feasible at this stage. — The collapse of diplomatic negotiations increases the likelihood of prolonged conflict and sustained high energy prices.
+0.60Iran's Parliamentary Speaker declared U.S. bases and assets in the region as legitimate targets. — Broadening the scope of conflict to include U.S. assets increases the risk of a larger global military engagement.
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OPEC+ agreed to increase production targets by 188,000 barrels per day starting in July. — Increased supply generally puts downward pressure on oil prices, partially offsetting the geopolitical premium.
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