Oil prices expected to rise after U.S. attacks on Iranian nuclear sites

The global oil market is the focus point significantly after the United States attacked three major Iranian nuclear sites on Saturday evening.

Oil prices are expected to rise after president Donald Trump called “amazing military success”, which, he said, “Iranian nuclear enrichment facilities” were “obliterated”. Trump also said that the US military could follow other targets in Iran if the country did not agree to peace.

Saul Cavon, the chief power analyst of the stock research company, said in Sydney, to Reuters that the most likely scenario will testify that Iran is responding by targeting American interests in the Middle East, including the Gulf oil infrastructure in places like Iraq or harassing shipburns via the Hormuz Strait.

The Strait of Hormuz is located between Amman and Iran and is the main way to export for oil producers such as Saudi Arabia, the United Arab Emirates, Iraq and Kuwait. It is considered one of the most important oil selection points in the world, according to Energy Information Management (EIA).

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“It relies a lot on how Iran responds in the coming hours and days, but this may put us on the way of about $ 100 if Iran responds[s] As they threatened before. “

A few days ago, industry experts said if the escalating conflict between Israel and Iran threatens the decisive route and significantly reduces global oil supplies, prices may rise to up to $ 120 a barrel.

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One of the fuel station employees insert a nozzle in a car in Kolkata, India, on June 15, 2025. (Sudipta Das / Nurphoto / Getty Images)

On Friday, the sanctions were issued “against Iran -backed Ansar Allah, known as the Houthis, and the targeting of four individuals, 12 entities, and two legs imported oil and other illegal goods to support the terrorist group,” said the US Treasury to control foreign assets (OFAC) in a press statement.

“The Houthis rely on a series of front companies and reliable facilities to generate secret revenues, buy weapons components, and advance in the rule of terrorism in partnership with the Iranian regime,” the deputy treasury minister said in a statement.

In an air view, oil storage tanks are seen at Enterprise Sealy on June 19, 2025 in Sealy, Texas. (Brandon Bell / Getti Emaiz)

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“Today’s procedure – the most important so far against the group – is our commitment to disrupting the financial pipelines and shipping that enables their reckless behavior in the Red Sea and the surrounding area.”

Daniel Ginoviz and Royzaz in Fox Business contributed to this report.