Crude oil futures skyrocketed 14% after Israel launched deadly airstrikes against Iran, killing Commander Hossein Salami of Iran’s Revolutionary Guards.
As of 9:52 local time in Thailand on Friday, June 13, 2025, the U.S. West Texas Intermediate surged 13.99% to $77.56 per barrel, while global benchmark Brent crude jumped 13.16% to $78.49 a barrel.
The rise in crude oil price came after Israel initiated a series of airstrikes on Friday morning, local time, focusing on sites it claims are tied to Iran’s nuclear program. In the aftermath of the strikes, Israeli Defense Minister Israel Katz declared a state of emergency, cautioning the public about a likely missile and drone retaliation against Israel and its civilian population in the near future.
Prime Minister Benjamin Netanyahu addressed the Israeli public, asserting, “This operation will persist for as long as necessary to eliminate this threat.”
Meanwhile, reports from Iran’s state media indicate casualties in Tehran, the capital city. The Iranian state media further confirmed on Friday the death of Commander Hossein Salami of Iran’s Revolutionary Guards, resulting from the Israeli airstrike.
