{"id":167337,"date":"2025-06-22T11:18:00","date_gmt":"2025-06-22T10:18:00","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/war-oil-prices-to-skyrocket-again-as-us-joins-israel-against-iran"},"modified":"2025-06-22T11:18:00","modified_gmt":"2025-06-22T10:18:00","slug":"war-oil-prices-to-skyrocket-again-as-us-joins-israel-against-iran","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/war-oil-prices-to-skyrocket-again-as-us-joins-israel-against-iran","title":{"rendered":"War: Oil prices to skyrocket again as US joins Israel against Iran"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>Following the United States of America strike, which hit Iran\u2019s three nuclear sites\u2014Natanz, Isfahan, and Fordo, on Saturday, the global oil prices are expected to spike further in the coming days.<\/p>\n<p>US President Donald Trump on Truth Social described the attack as a \u2018spectacular military success.\u2019<\/p>\n<p>He added, \u201cKey nuclear enrichment facilities have been completely and totally obliterated.\u201d<\/p>\n<p>However, they downplayed the impact of the attack, claiming that it was contained with little damage. Meanwhile, Minister Seyed Abbas Araghchi faulted the strike and described it as \u201coutrageous\u201d and reserved \u201call options\u201d to defend Iran\u2019s sovereignty.<\/p>\n<p>The development became the US\u2019s official entrance into the war between Israel and Iran in the last weeks, further escalating the tension in the Middle East.<\/p>\n<p>This has prompted fears of soaring oil prices, market volatility, and a deepening U.S. role in the region\u2019s conflict.<\/p>\n<p>Investors predict a \u201cknee-jerk\u201d reaction, with oil prices expected to spike due to fears of disrupted Middle East supply. As of filling the report, crude oil prices such as Brent Crude and West Texas Intermediate stand at $77.07 and $73.83 per barrel. In the last weeks, Brent crude, already up 20% over the past month to $79.04, could climb towards $130 per barrel in a worst-case scenario, according to JPMorgan.<\/p>\n<p>On his part. Mark Spindel of Potomac River Capital said, \u201cOil will open higher.\u201d<\/p>\n<p>He noted the uncertainty over Iran\u2019s response and damage assessments.<\/p>\n<p>The US\u2019s involvement in the Israel and Iran war has generated both kudos and knocks from the country\u2019s lawmakers.<\/p>\n<p>For instance, Republican Senator Mitch McConnell praised Trump\u2019s \u201cdecisive action,\u201d arguing that the move would bring to a standstill Tehran\u2019s aggression.<\/p>\n<p>On the flip side, Democrat Congresswoman Alexandria Ocasio-Cortez condemned the strikes as a \u201cgrave violation\u201d of constitutional war powers, calling them \u201cgrounds for impeachment.\u201d<\/p>\n<p>In Nigeria, the development poses mixed realities to the country. While oil revenue is on the rise, domestic petrol prices are on the upward trend following the Israel-Iran war.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/nigeria\">Nigeria<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. Following the United States of America strike, which hit Iran\u2019s three nuclear sites\u2014Natanz, Isfahan, and Fordo, on Saturday, the global oil prices are expected to spike further in the coming days. US President Donald Trump on Truth Social described the attack as a \u2018spectacular military success.\u2019 He added, \u201cKey nuclear enrichment facilities [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":167336,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,29,28,2660],"tags":[1570,2140,254],"class_list":["post-167337","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-to-homepage","tag-africa-press","tag-africa-press-nigeria-2","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>War: Oil prices to skyrocket again as US joins Israel against Iran - Nigeria<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/war-oil-prices-to-skyrocket-again-as-us-joins-israel-against-iran\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"War: Oil prices to skyrocket again as US joins Israel against Iran\" \/>\n<meta property=\"og:description\" content=\"Africa-Press &#8211; Nigeria. Following the United States of America strike, which hit Iran\u2019s three nuclear sites\u2014Natanz, Isfahan, and Fordo, on Saturday, the global oil prices are expected to spike further in the coming days. US President Donald Trump on Truth Social described the attack as a \u2018spectacular military success.\u2019 He added, \u201cKey nuclear enrichment facilities [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/war-oil-prices-to-skyrocket-again-as-us-joins-israel-against-iran\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-22T10:18:00+00:00\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/war-oil-prices-to-skyrocket-again-as-us-joins-israel-against-iran#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/war-oil-prices-to-skyrocket-again-as-us-joins-israel-against-iran\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"War: Oil prices to skyrocket again as US joins Israel against Iran\",\"datePublished\":\"2025-06-22T10:18:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/war-oil-prices-to-skyrocket-again-as-us-joins-israel-against-iran\"},\"wordCount\":357,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/war-oil-prices-to-skyrocket-again-as-us-joins-israel-against-iran#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/06\/MohamadReza1750578480.594081.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\",\"homepage-english\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/war-oil-prices-to-skyrocket-again-as-us-joins-israel-against-iran#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/war-oil-prices-to-skyrocket-again-as-us-joins-israel-against-iran\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/war-oil-prices-to-skyrocket-again-as-us-joins-israel-against-iran\",\"name\":\"War: Oil prices to skyrocket again as US joins Israel against Iran - 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