In the course of the US-Israeli attacks on Iran is the Oil price increased significantly again. A barrel of North Sea Brent rose in price by 14 percent in the first few minutes of trading and, at $82.37, cost the most since January 2025. The price of US West Texas Intermediate (WTI) oil also rose in double-digit percentage terms.
After the initial double-digit increases at the start of trading, oil prices fell again somewhat by 12:30 a.m. But they were still up by around nine percent.
background the high prices are the attacks Israel and the USA on the Iran and the killing of the head of state Ayatollah Ali Khamenei. Iran responded with counterattacks and also restricted shipping through the Strait of Hormuz. More than 200 ships, including oil and gas tankers, were anchored off the strait on Sunday, according to shipping data.
Analysts fear further increases
The states of the OPEC+ oil cartel decided on Sunday to increase daily production in order to prevent bottlenecks and excessive price increases. Federal Economics Minister Katherina Reiche (CDU) warned with regard to Germany’s supply to serenity. In terms of liquefied gas, “no significant quantities” would be imported into Germany via the Strait of Hormuz, she said.
The Strait of Hormuz is one of the most important choke points for global energy trade. Around a fifth of global oil shipments pass through the strait every day. Any disruption could cause energy prices to rise and unsettle international markets. Against the background of the escalation in the war with Iran, analysts expect a further price increase of up to $100 or more.