Oil prices skyrocket after Israel’s attack on Iran. Trump urges Iran to “make a deal before nothing remains”

• JPMorgan fears that crude oil will reach a high of $130 a barrelin the worst case scenario, US inflation returns to 5%. President Trump has urged Iran to sign a contract before further Israeli attacks, but tensions are likely to remain high as Israeli leaders across the political spectrum support the attack.

Oil prices skyrocketed in more than five years on Friday after Israeli airstrikes in Iran placed the Middle East on the brink of war and threatened efforts to defeat inflation.

Attacks on dozens of Iranian targets, including capital risks that will destroy Israel’s supply of the world’s most important goods. The Persian Gulf spans Saudi Aramco’s vast oil fields near Dhahran to the west, with gas reserves in the eastern part of Iran representing almost the fifth chokepoint of global demand passing through the Strait of Hormuz.

“We still have time to end this massacre,” said the president. I said He called on Tehran to abandon efforts to enrich uranium to arms-grade levels. “Iran has to make a deal before anything remains.”

Crude oil has skyrocketed Up to 13%– Get the best profit in five years insight into S&P Global Commodity – Brent North Sea Oil has reached $78.50 a barrel. Three close advisors Damage to the Supreme Leader Ayatollah Ali Khamenei and Natanturan enrichment sites.

Prime Minister Netanyahu:
"Some time ago, Israel launched Operation Raisinglion, a military operation that was targeted to roll back Iran’s threat to Israel’s very survival.

This operation lasts for a number of days as necessary to remove this threat." pic.twitter.com/3c8of1gcya

– Israeli Prime Minister (@israelipm) June 13, 2025

“I am deeply concerned about this development,” said Rafael Grossy, head of the International Atomic Energy Agency. I said Body Governor’s Committee on Friday. “Attacks like this will have serious consequences for nuclear safety, security, protection, and regional and international peace.”

In a statement, Israeli leader Vinamin Netanyahu said he was not going to be disappointed. For years, Tehran has been an unstable force in the region, with the fallen Syrian regime, the rebels of Yemeni Hooty, the Hezbollah semi-ethnic group of Lebanon, and Hamas in Gaza.

“This operation will continue for the next few days necessary to remove this threat,” the Israeli Prime Minister pledged. Iran’s supreme leader Ayatollah Ali Khamenei vowed to retaliate, suggesting that the conflict would escalate.

JPMorgan estimates that US inflation could reach 5% in the worst case scenario

The sustained spike in crude oil puts upward pressure on prices with most fossil fuels and petrochemical raw materials, which are priced from trading at the global benchmark agreement North Sea Brent. JPMorgan warned that the conflict could potentially bring the US consumer price index back to 5% in the worst-case scenario, in the background of a $130 barrel oil price.

Trump, that Approval ratings have declined completely The latest Quinnipiac Poll, released this week, has been appointed as a platform to tackle the lives of Americans and end the “eternal war” in the Middle East.

“We have inflation under our control,” said the president.I insistedOn Thursday, traders expressed their dissatisfaction with the recent rise in energy prices as they are selling at prices at increased risk of Israeli strikes.

With this crime, the Zionist regime prepared a bitter, painful fate for itself.

-khamenei.ir (@khamenei_ir) June 13, 2025

Trump has tried to stop Iran from enriching uranium even more by launching formal talks with Tehran for the first time in years.April. On Monday, the president was reportedI askedNetanyahu is preventing it from attacking Iran for at least long enough, at least to give it plenty of time for peace talks.

“The United States was scheduled to meet with Iranians tomorrow as it could reach a nuclear deal of sorts.”I saidConservative commentator Saagar EnjetiBreakpoint. “Israel has now wiped it all off the table. They have chosen to start this war.”

Netanyahu begins his attack as he takes power

The preemptive attack on Iran comes when Netanyahu is struggling Keep His dominant Union together Amidst the growing political rifts of the country.

On the one hand, his ultra-Orthodox allies are demanding laws renewing exemptions from the military duties of the Haredi Jews. The exemption did not pass, and Ultra Orthodox UTJ Chass Do something good for their threats Collapse the governmentNetanyahu The immunity from the prosecution ends. He then risks becoming Israel’s second former Prime Minister, following Ehud Ormat. Facial imprisonment That’s all Corruption fee.

Friday’s attack led Netanyahu’s main critics to close the ranks behind the prime minister, both on the right and left, with Naftali Bennett and Yaa Golan, showing a united front during the latest crisis. Both signaled them support The war effort and the Israeli army were once again in harm’s way.

“All Israelis, left and right, support this self-defense action.”I saidBennett, nowLeading in polls. He accused Iran of being the head of the “terrooctopus” that is wreaking havoc around the world. “I’ve been asking for a long time to hit my head. Now it’s finally happening.”

This story was originally introduced Fortune.com