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Oil Jumps to $77 as Iran Tensions Trigger Inflation Fears

Reading time: 3 min • Jun 23, 2025, 11:55 AM (UTC)

Key Points

  • U.S. airstrikes on Iran have triggered a surge in oil prices...

When Iran and the U.S. start flexing their military muscles, oil prices get as jumpy as a day trader on their third espresso. This morning, WTI crude hit $77 per barrel faster than you can say "geopolitical risk premium," with Brent crude not far behind at $78.

The drama unfolded after U.S. airstrikes on Iranian nuclear facilities on June 22nd sent shockwaves through commodity markets. Suddenly, everyone's worried about Iran potentially closing the Strait of Hormuz – that narrow waterway where about 20% of the world's oil shipments squeeze through like commuters in a subway turnstile.

**When...

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