Oil Rises 1% on Reports of Strike on Iranian N-Facilities

published:21/05/2025 12:47 GMT

Oil prices jumped more than 1% on Wednesday after reports Israel is preparing a strike on Iranian nuclear facilities, raising fears that a conflict could upset supply availability in the key Middle East producing region. Brent futures rose 87 cents, or 1.3%, to $66.25 a barrel by 0807 GMT. U.S. West Texas Intermediate crude jumped 89 cents, or 1.4%, to $62.92. New intelligence obtained by the United States suggests that Israel is preparing to strike Iranian nuclear facilities, CNN reported on...More