Global Markets Shaken as US Strikes Iran Again, Causing Oil Price Surge
Global energy markets plunged into renewed chaos as American forces launched a second consecutive day of military strikes on Iran. This development triggered a sharp increase in oil prices and a decline in U.S. stock futures. West Texas Intermediate (WTI) crude experienced a surge of up to 2.7% to $92.45 a barrel. At the same time, S&P 500 futures fell by 0.3%, and Nasdaq 100 contracts dropped by 0.5% in the early trading hours of June 11.
The escalation has intensified an already unstable geopolitical and economic situation. The Strait of Hormuz—a critical route for approximately a quarter of the world’s maritime crude oil and LNG—remains significantly disrupted. Iran continues to block most shipping traffic. U.S. crude inventories have now decreased for seven consecutive weeks, dropping 7.228 million barrels last week alone. This figure nearly doubles the analyst expectations of a 4 million barrel draw.
President Trump has issued a stern warning to Iran, stating they would “pay the price” for failing to reach a peace deal. This statement has further fueled uncertainty. Analysts at Citigroup have expressed concern that sustained high crude prices could lead to broader inflation through “second-round effects.” This situation has put central banks on high alert. The International Energy Agency has described the ongoing Strait of Hormuz disruption as the “largest supply disruption in the history of the global oil market.” Investors and policymakers are eagerly awaiting any breakthrough in ceasefire negotiations that could alleviate the supply shock.
Source: Bloomberg – Stock Market Today: Dow, S&P Live Updates